With small businesses a key revenue driver for banks, financial institutions increasingly depend on digital tools to strengthen their client relationships.
FIs should prioritize reducing friction and enhancing customer experience to drive engagement and retention, Sharif Alexandre, chief technology officer and executive vice president at the $9.9 billion ConnectOne Bank, said at the recent Bank Automation Summit 2025 in Nashville, Tenn.
“For a lot of small businesses, the bank is the first point of entry to business,” Alexandre, a former small business owner, said.
“But I think it all comes back up to experience. The pandemic was a pivotal moment for small businesses,” he added. “They understood that they needed to go digital.”
Englewood Cliffs, N.J.-based ConnectOne in December announced a new digital origination tool from account origination solutions provider Mantl, which automates 100% of the loan decisioning process for personal and business loans.
Digital payments present opportunities for banks to serve SMB clients in ways they couldn’t 10 years ago, he said.
Building relationships through tech
Banks should use technology to evolve with their business clients, said Matthew McCown, executive director of the data and analytics team at J.P. Morgan Payments, said on the panel.
By digitalizing and automating administrative tasks, banks can focus more on the customer and adapt to clients’ changing needs as their businesses grow, McCown said, adding that his team is evaluating potential AI use cases for SMBs.
Making it easier for SMBs doesn’t just help clients grow their business, it ultimately results in gains for the banks, Mark Williams, head of business banking sales transformation at Citizens Bank, said in the panel.
“You’ll generate revenue through creating a fantastic experience and lowering the barriers to entry and the barriers to utilization,” Williams said.
Read full coverage of Bank Automation Summit 2025 at finainews.com.
Register here for the upcoming Bank Automation News webinar “Emerging fintechs: New technologies you need to know now” on Tuesday, April 8, at 11 a.m. EST.
