Online, mobile banking seminal for small business owners

Juni 2016
Powered by The Paypers | Online & Mobile Banking

Online and mobile banking are of great importance to small business owners accustomed to using digital banking channels for their personal accounts.

55% of small business owners consider technology resources when choosing a financial institution, according to the Fall 2015 Raddon Small Business National Research, commissioned by Fiserv. 70% of panelists indicated they'd use a cash flow management tool

Many small business owners expected to increase the use of the following electronic payments via online and mobile banking in the 12 months following the survey. For business bill payments, 6% expect to increase use via online banking, 24% expect to increase use via mobile banking.

For ACH for direct deposit, 47% expect to increase use via online banking, 18% expect to increase use via mobile banking. For Wire transfers, 25% expect to increase use via online banking, 8% expect to increase use via mobile banking

70% of panelists will use a cash flow management tool if it is offered by their financial institutions. 24% ranked predictive cash management as the most important feature.