This working group, in a roundtable format with moderators, will feature peer-to-peer bank executive exchanges on best practices for facilitating stronger small business banking strategies across five key topics for serving this market:
- Defining the New Small Business Customer – The discussion is on understanding how small businesses are changing, and what they need most from local banks, including who the new SMB segments are (microbusinesses, creators, digital-first entrepreneurs); how their demand for credit, payments, and financial guidance has evolved; and what banks offer that fintechs can’t.
- Competing in the Digital Era – The discussion will focus on the importance of adopting the right technology stack for scale and customer experience, including how banks can partner with fintechs or vendors for cost-effective innovation; the imperative of streamlining digital onboarding and loan processing, and the benefits of using AI and data analytics for smarter underwriting and relationship management.
- Payments, Cash Flow & Embedded Finance – The discussion will center on simplifying money movement for small businesses; including ways to leverage FedNow and instant payments for SMB liquidity; the integration of payments, payroll, and accounting into one experience; and exploring embedded finance partnerships with local SaaS and e-commerce players.
- Relationship Banking 2.0: Blending High Tech with High Touch – The discussion will focus on how to reinvent personal connection in a digital-first world; how to make relationship managers more productive with digital tools; designing “advice-based” banking models for business owners; and building loyalty through community engagement, local events, and educational programs.
- Managing Risk & Regulation in a New Environment – The conversation will focus on how to remain compliant while innovating on behalf of SMBs, including navigating open banking, data sharing, and digital identity; balancing speed with sound underwriting in an AI era; and managing cyber risk and fraud in small business portfolios.
