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BankThink Small-business banking is about to get a whole lot better

January 30, 2019 / Karen Mills
SHARESHARESHARE

A different kind of small-business-focused bank is about to emerge and these newcomers will look very different than current lenders in this sector. They will provide best-in-class services, no longer treating small businesses as poor cousins within large consumer lending divisions. And some will target a single niche, tailoring their services to a specific type of business. Innovations in fintech, driven by big data and artificial intelligence, are converging to create a new world for small businesses. Now all of their financial services can be interconnected, predictive, intuitive and readily available. And business owners can focus on what they do best — running the business, rather than trying to be their own financial adviser, payroll clerk, loan officer and more.