Overview

While most businesses have only one financial relationship and tend to stay loyal to their bank, a subset of small businesses (31%) spread their accounts, products, and financial services across multiple institutions. Though these businesses tend to be more fickle, they also tend to be the best customers, with the highest digital engagement and profitability potential for the bank. This report examines how FIs looking to earn a greater share of financial products and encourage consolidation at the primary FI can design digital banking services and marketing to best target their most attractive small business customers.

Key questions discussed in this report:
  • How many banking relationships do small businesses have?
  • What does it mean to a “primary” FI?
  • Which products tend to be sought at “secondary” FIs?
  • What should the role of the relationship manager be in deepening small business banking relationships among the highest-value clients?
  • What digital tools can banks offer to encourage greater engagement and relationship depth?

Methodology

The small business data in this report are based on information collected in a random-sample panel of 1,000 small businesses and microbusinesses in a March 2017 online survey. Javelin defines microbusinesses as those with annual revenue between $100,000 and $1 million and small businesses as those with revenue between $1 million and $10 million.


The consumer data in this report are based on information collected in a random-sample panel of 10,585 consumers in a May 2017 online survey.



Book a Meeting with the Author

Related content

November 06, 2025
2026 Small Business Banking Trends

Small businesses have always straddled two worlds. They expect the simplicity of consumer banking but often need the personalization and sophistication of corporate solutions. A tu...

September 09, 2025
CSI’s Acquisition of Apiture Creates a Formidable Full-Stack Player

CSI’s acquisition of Apiture in August is a game-changer for a company that has long been a trusted provider of core banking for community banks. CSI is positioned to gain a market...

August 26, 2025
2025 Small Business Digital Banking Vendor Scorecard

Javelin’s 2025 Small Business Digital Banking Vendor Scorecard evaluates seven leading vendors that provide online and mobile banking platforms for small businesses. Q2 claimed the...

Make informed decisions in a digital financial world

Let's Connect