Monit’s new bank features help bankers understand, target, and connect with small business customers. Most small businesses have three to five relationships with banks or other financial institutions, creating giant data blind spots for banks who want to understand and help their small business customers. Now, in addition to that advantage, Monit’s predictive intelligence offers community banks the data and insights they need to better serve small business customers. According to a recent survey, 74 percent of small businesses would switch banks to get access to predictive financial tools, and 90 percent want a “one-stop” digital experience pulling everything together in one place, creating a competitive opportunity for banks.
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Monit keeps small business owners on top of their finances in a way that accounting software alone cannot. In doing so, banks will realize deeper relationships and boost their bottom line.” With Monit, bankers can be more than just a vendor to their small businesses and get back to being a trusted advisor to their clients.
“The Monit platform enables community banks and credit unions to punch above their weight by leveraging predictive intelligence to give community bankers new insights to understand what their business customers need and when to offer it. “The industry is seeing a clear trend of mega-banks investing heavily in digital services to support their business customers by connecting to accounting and other critical services while layering predictive analytics and guidance,” said Steve Dow, CEO and co-founder of Monit and a former business banking executive at Webster Bank. Using predictive intelligence, Monit offers banks a high-level, holistic overview of the health of their aggregated portfolio of small-business customers, as well as digital tools to better serve those customers. 23, 2020 (GLOBE NEWSWIRE) - Monit, the award-winning mobile predictive financial platform for small businesses, today announced new features for banks that offer Monit to their small business customers.
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