United States

Small-to-midsize business insights

SMBs expect competitive fees, tailored communications, and concierge services. Even more than consumers, they demand a personalized touch that knows and respects their preferences.

 

See how helping a SMB run and fund their business keeps them loyal.

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Big Bank Hopping

While fewer SMB are switching banks, a big bank customer is more likely to leave for another big bank. Why? Lower fees. Smaller banks do a better job of stemming attrition. Why? Personalized service.

  • Switched or planning to switch
  • No switch
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See the impact digital payment acceptance has.

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Digital Payments Boom

Acceptance of online, P2P, and mobile payments is up 38 percent, collectively, from 2017. However one quarter of community bank customers are forced to work outside of their primary institution to keep up with the times. (3Xs the number of other bank customers)

YoY Growth in Digital Payments Acceptance

28%
Online Payments
32%
P2P
67%
Mobile Payments
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See how a business banking relationship grows to become a trusted advisor.

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Service Matters

Overall, eight out of 10 SMBs are satisfied with their banking providers, though favorability skews heavily toward service-oriented community banks and banks that assign relationship managers to SMB accounts.

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Run, Connect, Grow

Now in its fourth year, the annual FIS™ Performance Against Customer Expectations (PACE) findings offer a clear view into how well banking providers are meeting the needs of their customers. For 2018, and for the second year in a row, FIS specifically surveyed smallto-midsize business (SMB) customers and asked them to rank the importance of nine key attributes and then score their primary banking provider’s performance in those areas. These nine key attributes are built into Fix FIS’ RUN, CONNECT, GROW model, which represents a bank’s level of service and the steps to reach success.

 
 
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