Fundtech White Paper Examines How Banks Can Use Integrated Payments Solutions to Win Small and Medium Businesses
June 02, 2014
Banks can maximize their small and medium business relationships by offering a complete suite of payment services
Jersey City, NJ – June 2, 2014 - Fundtech, a market leader in global transaction banking solutions, today released a white paper titled “Winning Small and Medium Businesses: The Payments Advantage.” It provides a roadmap for ways in which banks can effectively win small and medium-sized business market share through delivery of integrated payments solutions.
Small businesses number an estimated 27 million in the United States. They must offer their customers multiple payment options and support multiple payment types, but have little time to manage multiple payment applications and track down unpaid bills. Given the sheer number of small and medium businesses (SMBs), this market represents a significant revenue generation opportunity for banks that already have the relationships with these customers but need to find a better way to offer treasury services, merchant processing and remote deposit in an integrated way that simplifies and automates payments processing for these firms. Through such an offering, small and medium-sized businesses will save time, money and have more transparency into their business; and banks will deepen their relationships with their business customers.
“Banks are in a strong position to leverage existing relationships with SMB customers, but time is running out as new, non-bank competitors enter the market,” says Danne Buchanan, Executive Vice President, Merchant Services, Fundtech, and author of the white paper. “Banks that move quickly to offer simple, automated, integrated payments solutions that are interoperable with the bank’s portal will appeal to SMB customers, strengthening the bank’s relationships with these customers and increasing bank revenues.”
To download a complimentary copy of this Fundtech white paper, please visit: http://www.fundtech.com/library/white-papers/.
Fundtech offers a comprehensive line of transaction banking solutions to banks and corporations of all sizes around the world. As a strategic supplier, Fundtech’s customers benefit from lower operating costs and an enhanced end-user experience through integrated and feature-rich solutions. The firm’s major product lines include: global and regional payments, corporate cash and liquidity management, financial messaging, electronic invoice presentment, supply chain financing, remote deposit capture, merchant services, credit card gateway and mobile banking products. Fundtech offers its software through a traditional software license and a Software-as-a-Service (SaaS) contract. Thousands of financial institutions and companies worldwide rely on Fundtech’s innovation to improve operational efficiency, increase revenues, and provide greater competitiveness through business-to-business services. Founded in 1993, Fundtech was acquired in 2011 by GTCR, a Chicago-based private equity firm. For more information please visit www.fundtech.com.
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