If it were up to SMBs, they prefer to bank with local financial institutions – to the tune of 89%!
However, when it comes to conducting business, convenience and innovation reign supreme. 45% of SMBs primarily bank with large national banks due to the availability of digital banking tools.
69% shared that the pandemic and resulting economic crisis have accelerated the dire need for convenient, digital banking solutions.
To meet the tech expectations of banking users, local banks need to make some changes.
If you’re interested in learning more about the future of small business banking and how local banks can adapt to meet the needs of their customers, check out this informative blog post: https://loquatinc.io/blog/small-business-banking-of-the-future-what-we-need-to-know/