Boston, May 5, 2016 – Today’s small-business owners expect a multichannel, device-agnostic banking experience in a user-friendly environment, and mobile access has become table stakes. Meanwhile, a growing number of small businesses are considering a move to nonbank providers, and new competition in the payments space has caused banks to take notice. Can banks broaden their mobile capabilities to better meet customer needs, bring mobile adoption to the next level, and retain customers?
This Impact Note analyzes U.S. small-business mobile banking adoption and guides financial institutions to the capabilities most likely to help them achieve their mobile payments goals. It is based primarily on the results of an October 2015 online survey of 1,000 U.S.-based businesses generating less than US$20 million in annual revenue.
This 16-page Impact Note contains nine figures. Clients of Aite Group’s Wholesale Banking & Payments service can download this report.