Boston, December 13, 2017 – The needs of small-business customers are evolving, including the ways in which they make payments. Meanwhile, these customers are not as loyal as they once were. Can banks that enhance their electronic payment offerings to better meet the needs of this customer segment avoid losing them to more agile banks and nonbank competitors?
This report explores the ways small businesses currently make payments and what banks can do to further grow their Automated Clearing House business. This report is based primarily on the results of a June to July 2017 Aite Group survey of 1,000 U.S.-based businesses generating between US$100,000 and US$20 million in annual revenue.
This 21-page Impact Note contains 17 figures and one table. Clients of Aite Group’s Wholesale Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.