Mobile Banking for Small Business Heats Up as Fintech Rivalry Grows
The Financial Brand | December 04, 2019
Nonbank competitors increasingly dominate digital small business ‘ecosystems.’ Few traditional institutions have joined in. Left unchecked, the trend could threaten banks’ position. Improvements in small business mobile banking capabilities indicate that the industry is aware of the challenge and striving to counter it. What small and medium-size businesses (SMBs) now expect from financial institutions and how they want it delivered calls into question the future of the many banks and the sizeable number of credit unions that specialize in business banking.