Page 34 - Summer 2025-Final_Neat

Small Business Banking & Tech:

A Dozen Technology Essentials to Help
Your Bank Strengthen Relationships with
Small Business Customers

BY JIMMY SAWYERS

12. A convenient branch
To attract small businesses, bankers must stop
thinking like bankers and technologists and start thinking like network for when business
business owners who couldn’t care less about buzzwords but care must be done in person. The
greatly about u�lity and func�onality. Tech providers and bankers branch is not dead. Since
1987, the number of
who speak in jargon and tell business owners what they need will
con�nue to wonder why they lose. The winners will instead listen banking loca�ons has
to what these business owners want and require, then provide increased by 28,592 even
solu�onsthat sa�sfy. As co-founder of our bou�que consul�ng though the number of bank
firm, now in our 16 th year, I can give you a dozen requirements charters has decreased by
9,830 (FDIC data, 12/31/24).
for the banker that wins and keeps our business:
Providing world-class digital services is s�ll cri�cal to the success
1. Credit card that is on par with American Express service levels
and features a strong app with proper controls and helpful of any bank or credit union of any size. However, I con�nue to
alerts—not draconian, ill-advised denials. Deny a low-dollar advocate a “digital too” not “digital only” strategy where
tradi�onal financial ins�tu�ons leverage their stellar reputa�ons,
legi�mate transac�on and the business owner will never use your
card again, which could result in significant lost interchange strong brands, trusted people, stable opera�ons, and the latest
revenue for your bank. technology to do anything a neobank can do…only be�er.
2. Business checking. Yes, many businesses s�ll write a lot of _____________________________
Jimmy Sawyers is Chairman & Co-Founder of Sawyers & Jacobs LLC,
checks. The checking account remains the cornerstone of the
a consul�ng firm focused on serving financial ins�tu�ons. Sawyers
customer rela�onship. Never forget this fact.
3. Remote deposit, which must have the same u�lity in terms of & Jacobs LLC is an ACB Associate Member. He may be reached at
cutoff �mes and credit �ming as a deposit made in person at a live 901-487-2575 or jsawyers@sawyersjacobs.com.
teller.
4. QuickBooks interface. Small businesses run on QuickBooks. This
interface is cri�cal. Get it right.
5. Online treasury management for money movement. It should
be secure, easy-to-use, with Account Takeover (ATO) protec�ons,
such as out-of-band authen�ca�on and ACH blocks and filters.
6. Secure file transfer for updated financial statements and tax
documents. Please have a funeral for your awful secure email
solu�on that your lenders despise and your customers curse.
7. Access to a line of credit when needed for cashflow crunches or
new ventures.
8. E-sign capability, especially for business travelers.
9. An excellent mobile banking app for quick access 24/7.
10. Mul�ple communica�ons channels (e.g., text, email, phone).
Make it hard for me to reach you and you’ll make it easy for me to
switch banks.
11. A personal banker who is accessible and who has a strong
assistant. People do business with people…not the name on the
le�erhead. This is the compe��ve advantage of tradi�onal banks
that can do anything a neobank can do, provided they align the
right people, processes, and technology.

Arkansas Community Banker | 34 | Summer