Digital Account Opening in Small-Business Banking: Keys to Evaluating Vendors
- Date:February 20, 2019
- Author(s):
- Ian Benton
- Jacob Jegher
- Report Details: 16 pages, 5 graphics
- Research Topic(s):
- Small Business
- Digital Banking
- PAID CONTENT
Overview
- How are businesses currently opening new accounts today?
- How would they prefer the experience to be handled?
- What framework and detailed criteria should bankers use to evaluate vendors?
- How can vendors be successful not only in enabling a seamless user experience, but also satisfying the behind-the-scenes needs of financial institutions?
Methodology
The data in this report was collected from a random-sample survey conducted in May 2018 of 1,000 business owners and decision makers with annual business revenue between $100,000 and $10 million.
Interested In This Report
Related content
Are Small Businesses Ready for Instant Payments? It's Complicated.
FedNow’s recent launch is a landmark development in the push toward a ubiquitous and affordable instant payments regime in the United States. For small businesses, instant payments...
The Dual Role of Digital in Retaining Small-Business Deposits
Small-business deposits are in flux at traditional FIs, with a quarter of those businesses moving deposits to other institutions in the past year. Often, the move is to another ban...
Business Financial Health: A Foundation for Upgrading Digital Banking
Maintaining business financial health is a challenge. Most entrepreneurs are not financial professionals, nor are they fluent in the language of banking, payments, and financial an...
Make informed decisions in a digital financial world