New FIS Study Finds Larger U.S. and U.K. Banks Are Vulnerable to Losing Critical Small-Midsized Business Customers - Seite 2

The SMB decision makers surveyed by FIS say they are increasingly adopting advanced tools from their banking providers to perform a growing number of financial transactions and activities:

• About 60% of SMBs in both countries have increased the number of transactions done digitally over the past year.
• More than 40% of financial transactions were completed digitally by SMBs in both countries.
• Acceptance of online, mobile app and person-to-person payments increased 38% over the last year for U.S. SMBs.
• More than 70% of SMBs in the U.S., and an even higher percentage in the U.K., report using mobile apps for handling financial transactions.
• More than half of the survey respondents in both countries make financial transactions from their smartphones on behalf of their businesses.
• Slightly more SMB survey respondents in the U.K. (28%) than the U.S. (23%) say their companies offer mobile wallet capabilities for financial transactions.

“There’s both good news and bad news for banks in this new FIS study,” said Christine Barry, research director at Aite Group. “The good news is that SMBs generally value their relationships with their primary banks and trust them more than alternative providers of banking and payment services. The bad news is that, at a time when their use and acceptance of digital transactions is growing, many SMBs are not happy with the tools they’re getting from their banking providers. Banks need to move quickly to address these needs.”

About the PACE Study

The PACE Study’s research method was comprised of surveys of decision makers at 574 small and medium-sized businesses across the United States and the United Kingdom. Businesses surveyed had $500 million (or the GBP equivalent) or less in revenue. They varied in size from startups to established businesses, and crossed industries. Surveys were conducted online, and asked respondents to rank their bank on nine key performance indicators.

To read the full report, visit www.fisglobal.com/pace.

About FIS

FIS is a global leader in financial services technology, with a focus on retail and institutional banking, payments, asset and wealth management, risk and compliance, and outsourcing solutions. Through the depth and breadth of our solutions portfolio, global capabilities and domain expertise, FIS serves more than 20,000 clients in over 130 countries. Headquartered in Jacksonville, Fla., FIS employs more than 53,000 people worldwide and holds leadership positions in payment processing, financial software and banking solutions. Providing software, services and outsourcing of the technology that empowers the financial world, FIS is a Fortune 500 company and is a member of Standard & Poor’s 500^® Index. For more information about FIS, visit www.fisglobal.com.