FIS Modern Banking Platform
Advance your bank with a modern core platform.
Worldpay is now FIS. Your experience is our top priority. We’re here to help.
Worldpay is now FIS. Your experience is our top priority. We’re here to help.
FIS Modern Banking Platform
Advance your bank with a modern core platform.
Data Restore
Protection from disaster.
Code Connect
The power of APIs with the scale of FIS.
Worldpay is now FIS. Your experience is our top priority. We’re here to help.
FIS Private Capital Suite
Data Exchange Solutions.
IFRS17
The right strategy for transformation.
Commercial Lending
Speed up the decision process.
Worldpay is now FIS. Your experience is our top priority. We’re here to help.
Worldpay is now FIS. Your experience is our top priority. We’re here to help.
Worldpay is now FIS. Your experience is our top priority. We’re here to help.
By Corey Gross, CEO, Sensibill (an FIS partner)
October 15, 2018
A robust banking industry needs a thriving small business community, and vice versa. In the U.S. today, sole proprietorships and micro-businesses make up 92% of all businesses in the private sector. Still, this group remains underserved by their financial services providers. In 10 years, self-employment is expected to outpace salaried work, meaning that most individuals will behave like “micro-business” owners, emphasizing the importance of addressing small-scale business needs. This expands the small business banking opportunity for banks, but also raises the bar.
To understand what this means for banks, Sensibill commissioned a study with Barlow Research Associates to understand the segment’s pain points, their relationship with their bank, and what they expect from their providers. Barlow’s research revealed that:
Historically, community and regional banks have been the trusted provider of choice for small businesses, and for this reason, they are ideally positioned to prioritize the micro-business segment––and capture the rewards. The success of this strategy hinges on community and regional banks reimagining their role from financial services providers to business partners.
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Tags: Customer Experience, Customer Segments, SMB
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