The shift from face-to-face relationships and in-branch interactions to fully digital experiences has been a curious mix of the completely expected (it’s been over a decade in the making, after all) and the utterly disruptive. Businesses and the financial institutions (FIs) that serve them have, in particular, been forced to reexamine how they work, bank, borrow, and more.

To help navigate all of this, we’re showcasing three must-read blogs from the last quarter that explore the challenges facing the business banking and commercial cash management segments—and some ways to make the new normal more manageable.

First up, “A Look at Obstacles for FIs Serving Corporate and Commercial Account Holders."

The digital age has enabled new entrants to compete with traditional FIs for primary financial relationships with businesses. The upstarts are offering solutions that solve specific business problems with embedded banking functions.

To compete, FIs need to provide solutions that go beyond traditional one-size-fits-all cash management products and extend their digital platform to connect to the broader financial ecosystem. They also need to take a consultative approach, demonstrating that they understand their customers’ business problems.

Of course, no amount of consultation will help if your commercial banking solutions are tethered to clumsy legacy technology.

Want to learn about other obstacles and solutions, including low interest rates, market segmentation, the digitization of commercial lending, and more? READ ON.

The next must-read piece describes “Challenges Facing FIs in Serving Their Small Business Customers.”

Eighty-five percent of small business owners indicated they would prefer to buy fintech products from their primary FIs.* This inclination presents an amazing opportunity to increase the value of small business relationships for the customer and FI alike, but FIs have to understand what specific customers need and offer relevant solutions. This takes profile and behavioral data that most FIs aren’t effectively using yet.

However, if FIs can find a way to leverage data and integrate the appropriate fintech-style solutions into their existing services, they’ll be able to offer small businesses amazing seamless experiences.

There’s more to learn about the challenges and solutions surrounding small businesses—including time to value and scalable technology investments. READ MORE HERE.

If you’ve found these blogs helpful, you might want to check out our final piece, “Q2 Named ‘Best-in-Class’ Cash Management Provider by Aite Group.”

For the third time, Q2 is honored to have been recognized as a “best-in-class” cash management provider in the 2020 Aite Group cash management evaluation. The recognition is humbling and has underscored Q2’s competitive position in the commercial banking space.

According to Christine Barry, Research Director for Aite Group and author of the report, “The last few years have provided Q2 with great growth as a company and as a cash management provider. As a result, the company is receiving increased market attention for a complete commercial banking suite with functionality tailored for companies across the business continuum.”

The criteria used to evaluate Q2’s cash management capabilities included customer service, stability, and end-to-end banking and lending services for businesses and FIs of all sizes.

To learn more about this recognition, check out the blog HERE. For additional context and research, you can read Aite’s Annual Cash Management Vendor Report HERE.

Please visit the Q2 blog regularly for relevant resources on cash management and other essential topics.


Written by Q2