NEW YORK, Jan. 16, 2019 /PRNewswire/ -- LendIt Fintech, the world's leading conference series dedicated to financial services innovation, today released its comprehensive white paper on SMB banking.
With nearly 30 million small-to-medium-sized businesses in the US alone, banks and fintechs are translating years of experience with consumer banking innovation into a growing focus on SMBs. The LendIt Fintech study examines how banking products are being tailored to these customers, and how competitors are adjusting to increase market share.
"Innovation in SMB banking covers lending, payments, cash management, accounting, budgeting, and more," notes LendIt Fintech CEO Bo Brustkern. "We are seeing greater adoption of mobile apps and artificial intelligence, bringing a shift in focus from simple banking transactions to more sophisticated and automated financial guidance. We're excited to share our findings with the entire fintech community, as well as our predictions for the coming years."
LendIt Fintech interviewed a number of executives at leading firms, among them American Express, Inclusiv, Independent Community Bankers of America, Jack Henry & Associates, and Lendistry. The paper also analyzes product launches and partnerships from scores of global financial institutions including JPMorgan Chase and Wells Fargo; regional, community and digital banks such as Popular Bank and Starling Bank; and fintech companies including PayPal, Intuit, and Kabbage.
Speaking to LendIt Fintech, Kevin Tweddle, Chief Innovation Officer at the Independent Community Bankers of America, said "Until now, the cadence of SMB banking innovation has been slower than in retail. This is all about to change...One question is 'can you completely digitize trust?' That will be an ongoing debate."
To download the 22-page white paper, click here.
About LendIt Fintech
LendIt Fintech is the world's largest event series dedicated to connecting the entire fintech community, including the lending, digital banking and blockchain segments. Our conferences bring together leading fintech innovators, banks, investors, enterprise technology platforms, and service providers to share the latest trends and facilitate networking. LendIt Fintech hosts three conferences annually: LendIt Fintech USA, LendIt Fintech Europe, and LendIt Fintech China, and dozens of complementary online and in-person events. LendIt also owns and operates one of the world's leading industry educational channels, Lend Academy.
For more information, please visit www.lendit.com.
Marketing & Communications Manager
SOURCE LendIt Fintech