Personalized SMB Banking: How Smart Integrations Help Banks Drive Growth
SMBs make up nearly 99% of businesses in the US, making them the growth engine of the economy. This makes it crucial for banks to provide them with the needed tools to succeed, and this is exactly what banks need to do. It’s necessary for banks to provide not only solutions to help their clients grow and scale, but also provide support.
Staying Close to Your Clients and Growing Alongside Them
Communication is absolutely essential when it comes to maintaining any type of relationship. For banks and their clients, this means embracing them: knowing where they are in their journey, listening and talking to them, understanding them. It also means keeping a strong focus on their long-term potential - partnering from the earliest stages and continuing to engage and grow alongside them.
Being an SMB today is far more complex than it was 30 years ago. A great idea and a business plan are no longer enough. Success requires the right tools, support from trusted partners, and access to digital technologies that help SMBs compete and expand.
Financial institutions have a clear mandate: make their clients’ lives easier. SMBs already face significant pressures, and those that prioritize client needs are best positioned to foster growth.
Personalization at Every Level
Personalization works in two ways. Horizontally, it covers the services almost every SMB needs, no matter their industry or size. Vertically, it’s about giving each client exactly what they need based on their unique business. Pollinate helps banks keep a clear view of each client’s financial health while making it easier to deliver solutions that actually fit.
Data and analytics are the backbone of personalization - insights provided by banks play a critical role in helping SMBs grow and expand.
Watch the full episode, featuring Kathryn Cleary (PNC Bank), Fiona Roach Canning (Pollinate), Laura Wallace (Global Payments), and Nuno Francisco (Citizens Bank) as they explore how banks can personalize SMB services through smart integrations and data-driven strategies.
It’s crucial for banks to understand what clients are thinking and feeling in order to help them make informed decisions. This goes beyond just payments, requiring integrated solutions that meet the diverse needs of SMB clients.
Securing Client Loyalty
All financial institutions share the same goal: to be the primary bank for their clients. Achieving this requires more than the basic services - it requires consistent investment in tools and support that help clients succeed. The more a bank can offer and align with client needs, the more likely SMBs are to stay loyal and expand the relationship.
Pollinate gives banks the insights they need to reinforce their role as the primary partner for SMBs. Merchant acquiring is often disconnected from business banking, and embedding it directly within the business banking estate simplifies reconciliation for SMBs while strengthening the bank’s resources to back clients.
Maintaining existing clients is far easier than acquiring new ones, and firms that fail to meet SMBs where they are will quickly see competitors step in. Primary bank status is not just desirable, it shapes long-term growth.
Measuring Success in SMBs
Success is shown in all kinds of ways, from strong client relationships to tangible business growth.
Engagement you have with your clients: It’s imperative that banks know their clients through and through. Understanding their goals, challenges, and day-to-day operations allows banks to provide the right solutions at the right time.
Being able to offer them the necessary tools: Every client is different. This is where personalization comes into play, and you need to equip your clients with the right set of tools.
How are we improving the profitability of our clients acquiring business: Pollinate helps banks grow their SMB customer base while keeping existing clients engaged and loyal. Key areas include acquiring more SMBs and prioritizing meaningful, high-value conversations. The goal is to make every interaction count and build stronger, more profitable relationships over time.
Key Takeaways:
- Keep things simple, personalization does not need to be complicated.
- Build strong foundations by investing in the right systems and datasets.
- Know your clients and engage with them.
- Listen carefully and maintain a mindset of continuous improvement.
