Big issue: People have shotgunned #PPPloans apps to multiple lenders trying to get one to bite. Banks/CUs hoping SBA can help QUICKLY filter out applicants who have already been approved elsewhere.

"With QuickBooks Capital, small business owners are able to get assistance with determining their eligibility for the federal relief. The software simplifies the application process using automation, as well."

bankinnovation.net/allposts/biz-l…

New: SBA released a breakdown of Paycheck Protection Program loans approved through Monday. It has aggregate data on loan sizes and recipients by industry and state content.sba.gov/sites/default/…

wsj.com/articles/fundi…

forbes.com/sites/briantho…

“A lot of these guys [neobanks] are filling in where banks have dropped the ball. Banks haven’t innovated in small-business banking for a long time.” - Javelin Strategy's Ian Benton shares insights americanbanker.com/news/neobanks-… via American Banker

Newest trends report out in the Small-Business Banking & Payments practice shar.es/ao2BhX via Javelin Strategy

🏆Congratulations to the winners of 2021 Small-Business Digital Account Opening Award Winners! Backbase wins Best in Class. FIS and Terafina, an NCR VOYIX company recognized as Overall Leaders! #smallbusinessbanking #awards Ian Benton Mark Schwanhausser Read More: ow.ly/GtRg50FapKo

We’re thrilled to announce that Novo has raised $40.7M in Series A funding! Read more about today’s news, and what it means for our small business customers, in TechCrunch — tcrn.ch/3q6o1Hl #fintech #venturecapital

New report out this week - Discussing how banks can build invoicing tools into online and mobile banking. Encourage migration to electronic payments, compete with Square/PayPal/QB ecosystems...especially useful for business owners interacting directly with customers in the field.

Banks need to position themselves as financial hubs for small-business clients if they hope to fend off Square, Intuit QuickBooks, and PayPal. Digital invoicing is an excellent place to start, along with laying the foundation for using #Zelle to pay businesses. Ian Benton

Will be interesting to see uptake and feedback on this cash-flow tool from FNBO business customers. Only 17% of U.S. businesses are using a bank tool to calculate/project cash flow. Most turning to a spreadsheet or QuickBooks, or doing nothing at all. Javelin Strategy

Announcing Javelin Strategy's Child Identity Fraud Study. Our aim is to draw greater attention to this issue, and provide insights for families as they navigate the perils of the digital world Link to Press Release: bit.ly/3CHTuVY Link to Report: bit.ly/3pYHwUd

Important for banks to personalize small business digital as much as possible...cash-flow tools, tailored assistance with business formation and account onboarding, business analytics, etc. Great to see some examples here. americanbanker.com/news/bank-of-a…

I'm speaking about how banks can counter the Big Tech threat in business banking on Friday at Finovate in SF. Come say hi if you're at the conference.

Bill on Newsom's desk that would require banks and credit unions in CA to publicly report overdraft fees as a % of net income. leginfo.legislature.ca.gov/faces/billText…

I'll be hosting a webinar at 1pm ET on Countering Fraud in Small Business Banking and Payments. Still time to register!

I'll be at the Q2 Connect 23 conference on Tuesday and Wednesday, speaking about the digital opportunity in Small Business Banking. Very excited about the different perspectives on this panel. Come say hi, or message me if you'd like to meet up during the conference.