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The Small-Business Need for Platform Extensibility
From the pages of Aite Group and Alkami’s report, Small-Business Platform Extensibility.
The current environment has forced small businesses to go beyond their financial institution (FI) as they seek innovation that meets their urgent evolving needs.
0 %
Businesses banking with a community bank that view their primary FI as innovative
0 %
Small businesses that go beyond their FI to meet at least one financial need
Small businesses associate fintech companies with innovationnand value.
0 %
Small businesses that describe ntheir primary FIs as delivering nfew products and services they nare willing to pay for
Many FIs, especially smaller community banks and credit unions, mistakenly believe they must give products away free of charge to small businesses.
1/3
Small businesses that pay > US $10 nor nothing per month to their banks n(not including interest payments on ncredit products)
Yet many small businesses would pay or are paying monthlynfees to non-bank providers.
0 %
Small businesses willing to pay for products and services that help them manage their finances
0 %
Small businesses willing to pay for products and services to more quickly collect on outstanding receivables
Businesses want to work with more fintechs.
0 %
Businesses that wish their primary FI would work with fintechs or offer innovations faster.​
Platform Extensibility
Fortunately, business banking platforms have evolved to address new market needs through extensibility.
FIs offer small businesses platform extensibility in three key ways:nenhanced single sign-on, SDKs, and APIs.
Learn more about these offerings by downloading the fullnSmall-Business Platform Extensibility report.