New small business expansion is being driven by recent technology innovations and platforms which have eliminated many of the previous barriers to kickstarting a new business. Deloitte market research shows that new growth of small business entrepreneurship is motivated by different factors than previous decades – with themes such as work-life balance, social impact, or supplemental income now core to many today's small business entrepreneurs. Leading banks are thinking differently andtaking action to better serve the rapidly growing needs of today's enterprising small businesses by creating innovative products and leveraging the best of modern technology and fintech partners to focus on the market in new and exciting ways. During this panel, Deloitte and its clients and partners will elaborate on market forces and experiences in driving modernization in SMB digital banking.
Key takeaways attendees will learn from the presentation:
- The emergence of SMB at the forefront in banking's digital revolution, the ways organizations are approaching Digital for small businesses, and where small business product innovation (+underlying technology) and customer journeys are headed
- How using applied design approaches (Desirability, Viability, Feasibility 3-lenses) can assist clients with getting to a clear articulation of their go forward small business proposition in order to kickstart technology driven transformation.
- Value-drivers to gain organizational buy-in and how Deloitte's Converge offering and Fintech partners can bring SMB digital banking ambitions to reality
