An upcoming Javelin Strategy & Research scorecard will evaluate digital banking vendors, which will be integral to the success of banks’ overhauled approaches in that space. This report is the first in a two-part Javelin evaluation of the landscape for small-business digital banking solutions. It provides a strategic framework FIs can use to prioritize their requirements, narrow their list of providers, and make informed decisions that will enable them to attract and serve business customers from sole proprietors to midmarket firms.

The stakes are nothing less than banks’ ability to survive and thrive in the coming decade. Rising non-bank companies (Square, Intuit, PayPal, Stripe, to name just a few) are encroaching on banks’ turf in traditional banking functions and payments, to the point that they cannot be ignored. Javelin’s evaluations, concentrated on broad categories and core competencies, will help banks as they map their futures.
 

Companies Mentioned:

American Express,Bank of America, BlueVine, Brex, Chase, Intuit, Kabbage, nCino, PayPal, Shopify, Square, Stripe, Wells Fargo, Zelle for Business (Early Warning Services)