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Closing the expectation gap

Based on findings from the 2021 Banking Impact Report

For years, financial institutions (FIs) have assumed that small business owners (SBOs) want an in-person, in-branch banking experience.

The 2021 Banking Impact Report tells a different story. Based on a survey of 500 U.S. small business owners, our research indicates that a growing number of SBOs want the same digital convenience available to consumers, but many community FIs aren’t stepping up to meet those demands.

We call this the expectation gap—and it represents a widening gulf between what business owners want and what community FIs currently provide. 

In this white paper, we offer data-driven insights to help you bridge the expectation gap. We explore how consumer preferences are driving SBOs’ demand for faster, more convenient services across a broader range of channels. And we make concrete recommendations to help you meet your business customers where and how they want to be met.