Just before Thanksgiving, Nicole and I attended the American Bankers Association Small Business Conference in Nashville, Tennessee. It was so inspiring! Seeing how banks and providers are coming together to better serve small businesses is exciting. As S.S. Scale sits in the middle of the Venn Diagram of small business and banking, we found it invaluable and would love to share our takeaways:
Businesses don't care about your products, they just need help solving their problems.
By providing guidance and solutions to build a company's financial strength, you're proving your value to the company. Banks win when they become the client's trusted advisor.
Although transactions will continue to automate, trust cannot be automated. Relationships still matter big time to small businesses!
Top Priorities for Small Business Satisfaction
Trust
Understanding Fees
Quality of Service
Communication & Advising
A few years ago, we thought data was going to solve all our problems in banking, but it hasn't happened yet. Transaction data is the most valuable data for preventing attrition.
Banks are still struggling to identify trends in a timely manner, and the client may have already made a move. AI can help banks predict and prevent attrition.
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