Big Takeaways from the ABA Small Business Conference

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.

Finally, take a peek at this statistic from the main stage presentation on the Future of Small Business Banking, which investigated the areas where community banks and credit unions are struggling: 42% of financial institutions report credit cards as a high barrier to entry for serving Small Businesses.

That's exactly why we created S.S. Scale! We see so much opportunity for small and mid-sized institutions to offer competitive business credit card solutions to their customers. As a small business with deep banking roots, we can break down that barrier for financial institutions of ALL sizes, and we thrive on helping organizations seamlessly solve payments issues.

Contact us today to see how S.S. Scale can help your organization optimize for the future.