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What’s Next in Tech Innovation?

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At the end of last year, Bryan Yurcan wrote an article in American Banker that addressed the banking industry’s shift towards technology and innovation to meet the growing demands of its customers.

While consumer demand for innovative technology that simplifies bank processes is nothing new, more businesses are beginning to evaluate what they want and need from their banks.

Finance departments are constantly asked to do more with less – combine that with an increased awareness around bank innovation, and it’s not surprising that a growing number of businesses expect their banks to offer tools that enable efficiency to help them meet their goals.

This year, more than ever before, banks need to expand their offerings for business customers or risk falling behind. Here are four ways banks can enable efficiency for businesses:

  1. Gather customer feedback to identify their pain points, and offer targeted solutions that address these problems
  2. Develop intuitive applications that are easy for customers to use, and interfaces that do not require a lengthy training process
  3. Offer solutions that are easy to manage, like virtual cards
  4. Provide easy access to analytics around payment behavior

The bottomline: banks’ business customers want and need innovative solutions that increase efficiency to meet their growing needs.

To learn how your financial institution can increase revenue by offering MineralTree invoice-to-payment services to your business customers, visit us online at: MineralTree solutions for Banks.

Is your business using bank-offered payment solutions? Follow us on Twitter at @MineralTree, and let us know!

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