Fintechs, Big Techs, and Megabanks are Relentlessly Targeting Your Business Accountholders
The battle for commercial accounts grows more intense by the day as competitors relentlessly target your business accountholders and digital disruptors flood the marketplace with innovative, agile solutions for payments, lending, and financial management. Big tech offerings like Square Banking, QuickBooks Cash, and Shopify Balance as well as fintech innovators such as Kabbage, BlueVine, and Brex are laying siege to small business banking relationships. Meanwhile, four of the largest financial institutions now own 61% of the primary relationships in small-business banking, up from 46% in 20181.