American Banker publishes its Small Business Banking 2024 research report, exploring long-term trust-building opportunities in the small business marketplace | PR Newswire [Video]

New findings reveal small businesses are increasingly relying on multiple financial service providers, as traditional banks struggle to meet evolving needs in key areas like value-added services and integration with digital tools.

, /PRNewswire-PRWeb/ — American Banker, Arizent’s leading resource for senior executives in financial services, unveils its Small Business Banking 2024 report. Sponsored by Gusto, this new research assesses both the competitive landscape and the opportunities banks have to deepen relationships with small business clients by focusing on trust and expanding service offerings.

“Banks have traditionally held a position of trust with small businesses, but now fintechs and other players are creating unprecedented competition. To retain and grow market share, banks need to address evolving client needs and offer a broader suite of services.”

The report examines how financial institutions can advance their relationships with small business clients through four key trust pillars: acting in the business’ best interest, safeguarding funds, protecting against fraudand keeping up with …