As small and medium-sized businesses (SMBs) continue to drive economic growth, they represent a critical segment for banks. However, in an increasingly competitive financial services environment, SMBs often feel underserved by traditional banking institutions.

That’s because more than 80% of B2B swift digital transactions are for an amount less than $100,000 and often the method for completing these kinds of transactions on an international basis is either cost prohibitive due to fees, or simply not possible at all. Solving that challenge for your banking clients is where LiquidTrust can help immediately.

As clients seek out the protection of escrow and other ancillary services that traditional banks do not provide, Fintech disruptors and alternative lenders have capitalized on this gap, offering tailored solutions that cater to the specific needs of SMBs. For banks, this presents both a challenge and an opportunity: How can banks evolve to meet the expectations of SMBs and retain their trust in the face of growing competition?  

Banks seeking to remain relevant in all aspects of a client’s financial services do so by building deeper relationships and by reconsidering their value proposition, to focus on a more personalized, transparent, and technology-driven suite of services. LiquidTrust is a fully integrated solution that can be adopted on the backend of your existing online banking platform to enable your customers to process payments in more than 100 countries seamlessly, while also benefiting from our KYC protocols, participant vetting process and a payment transaction method that equates favorably to other escrow services available via third parties.  

Understanding the Needs of SMBs  

At the core of any successful banking relationship is the understanding that SMBs are not simply smaller versions of large corporations. They are diverse, dynamic entities, each with specific needs based on their industry, size, and growth stage. Yet, too often, SMBs are treated as a homogenous group by financial institutions, offered generic services that fail to address their distinct challenges.  

The rise of FinTech firms has demonstrated the demand for faster, more efficient digital banking services. Many SMB owners, operating with limited staff and time, seek user-friendly platforms that allow them to manage their finances on the go. Yet, many traditional banks have been slow to adapt, still relying on cumbersome processes that frustrate small business owners.  

Rather than making massive investments in creating solutions from scratch, banks can simply adopt cutting-edge digital solutions to close this gap and LiquidTrust is here to help. Beyond digital convenience, speed is crucial. The integration of our services is designed to be brand agnostic, technologically simple and entirely secure.  

Offering value-added services like Liquid Trust, is the most effective way to demonstrate to your customers that you are interested in their overall success. With an eye toward helping them to expand into new markets, acquire a more diverse customer base, and benefit from the availability of a truly global work force.  

For banks, the future of any relationship with SMBs depends on the ability to innovate and adapt. Competing solely over fee schedules and interest rates in a race to the bottom wont attract nearly as many clients as an earnest race to the top with a forward thinking set of advanced banking tools that make success and expansion easier for SMB owners. For CEOs and bank executives, the path forward is clear: Invest in the future of SMBs, and the returns will follow. Contact us today and learn more about the many ways LiquidTrust.io is here to help.