Bank of America put a target on regional banks’ most valuable asset: small business relationships
The nation’s second-largest bank is pushing to reach 4.5 million business banking clients by 2026 — up from 3 million today. Their approach: plant banking centers in business corridors, staff them with dedicated advisors, and layer on digital tools that reduce friction at every step.
What makes this interesting is the execution model. BofA is industrializing what community banks do well — personal service and local presence — but with infrastructure advantages smaller institutions can’t match.
For core banking providers, the message is clear: Business clients now expect consumer-grade digital experiences with enterprise-level functionality. Regional FIs relying on relationship strength alone without modernizing their operational backbone will find themselves outflanked.
Is your core platform built for this competition, or just maintaining what you already have?
Source: https://www.bankingdive.com/news/bofa-business-banking-clients-market-share-push-miller/815844/
