The highly anticipated release of Q1bank call reports did not disappoint! Given a highly dynamic three months in the banking sector (see SVB, Signature, First Republic), deposits movements across banks were expected. But, digging into the data revealed unexpected trends!
Read moreRead moreSMB owners continue to be optimistic about their operating and economic environment - but with banking industry turmoil as a new priority risk to manage. 90% of owners relooked at how they are managing their deposits, with 38% opening and funding accounts at new institutions.
Read moreRead moreNew digital banking feature enables financial institutions to empower businesses with cash flow analysis and forecasting tools
Read moreRead moreNew technology allowed bankers to prioritize outreach and messaging to business clients while providing valuable insight into actions their SMB clients were actually making in March 2023
Read moreRead moreEconomic, regulatory, and competitive factors are making it even more challenging for banks to cost-effectively gather deposits as evidenced by the most recent earnings reports. As bank leaders refocus energies on deposit gathering, they need to move urgently to win and defend some of the most valuable sources of deposits: Small and Medium-Sized businesses. Monit offers bankers the insights they need to win and retain this valuable source of low-cost and sticky deposits.
Read moreRead moreMonit's Q4 2022 SMB Pulse Survey found that overall, business owners remain optimistic about their business and its operating environment. How they are thinking about adapting to higher inflation, interest rates, and receivables management offers hints for where bankers can best support them.
Read moreRead more"After being flush with deposits in recent years, banks face a declining pool of deposits, increased funding costs, and uncertain economic environment. Most bank executives recognize the importance of Small Businesses in building a low-cost and stable funding base - but their deposit gathering playbooks may be outdated. Read more to learn how forward-thinking banks are using new data and insights to prospect, win, and protect crucial SMB deposit relationships."
Read moreRead moreSmall businesses continue to be the greatest source of new jobs and make up 99.7% of all employer firms in the United States. With such a crucial role in our society, it is important that we bankers do everything we can to support and empower these businesses to thrive.
Read moreRead moreWhy forward-thinking banks are allocating resources to initiatives in their Business Banking segment.
Read moreRead moreOur flexible partnership options can support a quick, bank-branded deployment or a fully embedded digital experience. Please reach out to discuss the best approach for your bank.