FINANCE

KeyBank Launched New Check-in Tool to Support Small Business Growth and Financial Health

KeyBank | April 28, 2022

Small Business Growth
KeyBank launches the KeyBank Small Business Check-in, a new tool that helps small business clients assess where they currently stand financially, evaluate their goals, and discover how their banking partner can help open new opportunities toward their path forward. KeyBank is committed to helping small businesses in its local communities thrive, as demonstrated by the Paycheck Protection Program (PPP), where more than 70,000 SBA-approved loans were secured.

By asking small business customers a series of questions about the status of their organization and where they are on their financial path, the brief, three to five-minute interactive Check-in helps set the stage for swiftly identifying business objectives, goals, and requirements. After completing the form, small business owners may book an in-person meeting or phone call with one of Key's local bankers in their region to have a tailored, advice-driven conversation informed by industry statistics and the client's replies.

"The Small Business Check-in represents an investment in demystifying the small business banking experience by creating a frictionless experience that would allow for small business owners in our footprint to have access to the resources they need to operate at the highest possible level."

Kristyn Squires, Senior Vice President of National Small Business Sales Leader

The Small Business Check-in is a significant step forward in digitizing the business banking experience. The latest KeyBank 2022 Financial Mobility Survey revealed a possible association between financial savvy, confidence, and digital banking tools, with 78 percent of Americans preferring to bank digitally via a mobile banking app or bank website.

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SMALL BUSINESS TRENDS,INDUSTRY OUTLOOK

DBS named 'World's Best SME Bank' by Euromoney for second time

DBS | July 18, 2022

DBS has been recognised as the 'World's Best SME Bank' yet again, entrenching the bank's position as a global industry leader in partnering SMEs to grow and expand their businesses across borders and digitally. DBS' latest global best SME bank accolade comes from leading UK-based financial publication Euromoney, which has honoured DBS with the 'World's Best SME Bank' title for the second time since 2018. Louise Bowman, Editor of Euromoney, said: DBS has applied its customary digital innovation to the SME space with great success. This is not just a Singapore story: DBS has more than half of its SME book outside of its home base, and our review period was characterised by impressive growth in India, Southeast Asia and China. Since the start of the pandemic in early 2020, DBS has tapped on emerging technologies relentlessly to help SMEs, especially micro and small enterprises, manage their credit risk. DBS has developed algorithmic models powered by artificial intelligence and advanced data analytics that alerts the bank to potential signs of trouble faced by SMEs. With these capabilities, DBS was able to successfully identify over 95% of non-performing SME loans at least three months before the businesses started experiencing credit stress. Of these, over 80% of borrowers accounting for more than SGD 700 million in loans were averted from risk. As a result of its robust credit processes, since 2020, DBS has approved over 16,300 collateral-free loans totalling more than SGD 7 billion to SMEs in Singapore, with over 90% of the loans going to micro and small enterprises. "We are honoured and thrilled that Euromoney has chosen to recognise DBS as the World's Best SME Bank once again. We are encouraged that our commitment to support our customers and the SME community through thick and thin has been recognised. As SMEs emerge from the pandemic, they are walking into intensifying macro-economic headwinds, geopolitical tensions and supply chain turmoil. In all operating environments, we will continue to partner our SMEs to proactively manage their cashflow and liquidity needs while cheering them on to keep up the momentum of their digital transformation and business expansion journeys." -Joyce Tee, Group Head of SME Banking, Euromoney also awarded the World's Best 'Financial Innovation of the year' to DBS' Fixed Income Execution (FIX) Marketplace, Asia's first automated digital bond issuance platform where issuers can directly connect with investors on the platform at their sole discretion. Launched in 2021, FIX Marketplace aims to propel efforts to create a more efficient and accessible capital market through digitalisation, thereby creating more inclusive and accessible markets for issuers. Bowman said, "FIX Marketplace was a classic example of DBS not just waiting for the future to come but helping to design it. FIX Marketplace is an important step in the digitalisation of the capital markets. DBS also won another two first-time awards – it was named Asia's Best Bank for Wealth Management, beating established global private banking peers; and Hong Kong's Best Bank, dethroning a bank with an extensive global network which had won the award for 21 consecutive years. Bowman added, DBS achieved strong profit growth in Hong Kong as the established names experienced sharp falls. Groupwide investment in digital, and some sensible decisions around sector exposures, have paid off for the bank while others have struggled. In 2021, DBS bagged a record number of global accolades, including many first-time wins. Global wins included 'World's Best Bank' and 'World's Best Digital Bank' from Euromoney, 'Global Bank of the Year' and the global award for 'Most Innovative in Digital Banking' from Financial Times publication The Banker, and 'World's Safest Commercial Bank' from New York-based Global Finance. About DBS DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world. Recognised for its global leadership, DBS has been named "World's Best Bank" by Euromoney, "Global Bank of the Year" by The Banker and "Best Bank in the World" by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named "World's Best Digital Bank" by Euromoney and the world's "Most Innovative in Digital Banking" by The Banker. In addition, DBS has been accorded the Safest Bank in Asia" award by Global Finance for 13 consecutive years from 2009 to 2021. DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region's most dynamic markets. DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.

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MANAGEMENT,TECHNOLOGY

Intuit QuickBooks Launches a Campaign to Reach Latino-Owned Small Businesses and Support Their Growth

Intuit | June 30, 2022

On July 5, Intuit QuickBooks will launch a new campaign to encourage Latino business owners to think like a "negocito" — a small business — and instead focus on the tools that will help them become a "negociote," with a big business mindset. Intuit, the global technology platform that produces QuickBooks, TurboTax, Mint, Credit Karma, and Mailchimp, will feature soccer legend Javier "Chicharito" Hernández in a new commercial. The commercial and campaign aim to reach both English- and Spanish-speaking Latino-owned small businesses, who are the fastest-growing group of entrepreneurs in the United States, having grown by 34% in the last decade. Chicharito has become a cultural icon in many Latino communities due to his achievements on the soccer field. Chicharito embodies what it means to work hard and achieve great things. Access to private funding is one of the most significant barriers that Latino small businesses face. Businesses can use QuickBooks to automate and streamline their financial processes, pay employees, get paid quickly, and gain access to capital. Almost 60% of QuickBooks Capital customers would not have qualified for a loan anywhere else. Furthermore, entrepreneurs who applied through QuickBooks Capital saw a threefold increase in approval rates. “The rapid growth of Latino-owned small businesses has accelerated our efforts to drive more awareness of our financial tools, Knowing the many challenges that they are facing on a daily basis, we believe that it’s a critical time for QuickBooks to be a partner to Latino entrepreneurs and help them prosper.” -Dan McCarthy, senior vice president and chief business officer at Intuit

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TECHNOLOGY

Entrust Acquires Evidos to Expand Its Electronic Signature and Id Verification Capabilities

Entrust | June 09, 2022

Entrust, a global leader in trusted identities, payments, and data protection, announced today the purchase of Evidos, a pioneer in cloud-based electronic signatures and identity verification systems based in the Netherlands. The acquisition strengthens Entrust's position as a worldwide participant in the $2.3 billion trusted electronic signature market, which is a critical component of digital transformation. The deal's terms were not disclosed. Evidos, based in the Netherlands and launched in 2008, has roughly 35 people, including co-founders Kick Willemse and Zivko Lazarov, who will join the Entrust team as part of the acquisition. Evidos has more than 2,000 customers and millions of people who use its solutions. It is a large company in Europe with innovative technology. As a global leader in digital security, Entrust has a unique portfolio that includes, among other things, e-signature workflow, PKI, hardware security modules (HSMs), digital certificates, signing servers, and timestamp authority (TSA). “Security empowers enterprises to transform with confidence. Digital life demands that organizations provide trusted digital-first transactions, from opening bank accounts to applying for government services. Our intention at Entrust is to be a global player in digital signature solutions, built on a platform of security and trust. Evidos has a talented team that has built successful solutions for small businesses to large enterprise and government customers, and we are excited to work with them to accelerate the growth of Entrust in the e-signature market.” -Todd Wilkinson, CEO of Entrust All-digital workflows for authenticating identities and executing compliant, trustworthy documents are simple to implement with the Evidos solution. This is great for transactions requiring trust and benefiting from streamlined digital operations, such as finance, banking, real estate, and the workplace. Evidos' cloud-based electronic signature workflow solutions will be combined with Entrust's secure certificate-based digital signature solutions. Entrust now offers customers end-to-end, cloud-based electronic signature solutions, including basic, advanced, and certified electronic signatures. These solutions will ensure that documents signed using this offering will ensure the identities of the signers and be visible if altered in transit, thanks to a complete, eIDAS-aligned procedure that takes the user from start to finish in their e-signature journey.

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