SMB Banking Success, Simplified

Small and medium-sized businesses (SMBs) are the backbone of our economy, contributing significantly to growth and employment. As these businesses navigate shifting market conditions, there is a clear opportunity for your financial institution to enhance its offerings to better serve this important segment. By providing customized solutions and dedicated support, you can help SMBs succeed while expanding your institution’s influence and market presence.

There’s nothing small about small business banking.

There are over 33.2 million small and medium businesses in the U.S.—yet they continue to be underserved by financial services providers.

It’s one of the industry’s worst-kept secrets:

ref: www.filene.org/reports/understanding-the-twenty-first-century-small-business

It’s difficult to understate the potential of small businesses in terms of their banking needs, and it’s what led us to create Launch SMB for banks and credit unions that specifically serve this underserved segment.

But what do SMBs really want from their financial services providers?

Small and medium-sized businesses (SMBs) play a crucial role in our economy, driving both growth and employment. However, many SMBs face challenges in finding banking solutions that address their specific needs. Traditional banks and credit unions often overlook the unique demands of these businesses, missing opportunities to provide meaningful support.

To truly serve SMBs, it’s essential to understand their expectations and tailor banking relationships to meet those needs. Here’s what we’ve discovered:

Small business owners are in pursuit of more than just a banking provider; they want a financial ally that echoes their entrepreneurial drive, understands their business, and delivers solutions to help them grow. By tailoring SMB banking solutions to these fundamental needs, we can build relationships beyond conventional banking, promoting growth, innovation, and success for small business owners.

This is why we created Launch SMB, a full-stack, turnkey business banking solution to serve SMBs. Designed to accelerate market entry by overcoming core processing limitations. It delivers a streamlined digital experience aligned with modern expectations for small businesses—while utilizing your financial institution’s resources efficiently without overextending your team or processes. All of this is to ensure long-term reliability and security, minimizing future costs and integration issues.

Explore our website for a brief overview of Launch SMB in our one-page summary . If you'd like to see it in action, a product demonstration video is available.

Making the Case for Launch SMB

"Aligning with Nymbus on this vital project is a strategic move for MSUFCU, as it allows us to enhance our product offerings and deliver top-tier services to small business owners. Through this collaboration, we’re showing our dedication to the businesses that are the connectors of our communities.”

- April Clobes, President and CEO of MSUFCU

In case you missed it!

Hear what MSUFCU president and CEO April Clobes had to say about their commitment to SMBs in a previous podcast in our joint series with James Robert Lay and the Digital Growth Institute.

Nymbus Launch SMB FAQ’s

Q: How does your software provide our bank or credit union a competitive advantage in serving SMB clients?        

Nymbus Launch SMB is a comprehensive solution that enables financial institutions to rapidly launch and scale SMB banking services. It offers a modern, cloud-born platform with integrated digital functionalities and seamless third-party connections. The solution includes more than just technology; it includes operational support, call center services, and compliance expertise, significantly reducing the need for additional hires.

This turnkey approach allows for quick market entry, efficient customer onboarding, and the ability to offer products tailored to SMB needs.

Q: What core banking features and services does Nymbus offer for SMBs?        

Nymbus provides a full suite of core banking solutions, covering essential areas such as money movement, payment processing, and financial management.

These include advanced user entitlements, check and ACH positive pay, ACH services, international and domestic wire transfers, invoicing and expense management, savings and spending accounts with cash flow insights, and optimized money movement capabilities like internal and external transfers, mobile deposits, and bill payments.

Q: What kind of transaction processing capabilities does Nymbus Launch SMB have?         

Our platform effectively manages a wide range of transactions, including deposits, withdrawals, bulk payments, transfers, loan payments, and card transactions. Advanced features such as scanning and verifying check images enhance security and streamline processes. The system also includes front-end teller productivity tools and robust report-generation capabilities, empowering financial institutions to serve their SMB clients more effectively.

These capabilities are engineered to handle high transaction volumes seamlessly, backed by our round-the-clock operational support. This ensures smooth, uninterrupted service for financial institutions and their SMB clients, maintaining operational excellence even during peak periods.

Q: How easily can your software integrate with our existing systems and third-party applications?         

Our solution operates as a parallel platform, running alongside your existing core banking system without requiring extensive integration or disruption to your current operations. This approach allows for rapid deployment, enabling you to quickly enter the SMB market and generate revenue.

Our platform features open APIs that facilitate easy connections with third-party applications, enhancing your ability to offer services to SMB clients. Nymbus Launch SMB includes pre-built integrations with leading fintech providers, expanding your service capabilities without the need for complex technical work.

Nymbus provides comprehensive technical assistance, training, and ongoing operational support throughout the integration process. This ensures a smooth transition and minimizes the burden on your internal resources. Our goal is to enable your financial institution to launch and scale SMB banking services without the need for significant additional hires or extensive technical work.

Q: How user-friendly is your software for SMB clients and our staff?        

Our solution is designed to provide maximum user-friendliness for SMB clients and bank staff. For SMB clients, it offers an intuitive interface to manage accounts and receive real-time alerts efficiently.

Bank staff benefit from a 360-degree view of customer relationships, simplifying customer management. The integrated teller platform streamlines transactions and supports various banking processes, while the back-office dashboard "Control Center" enhances task management and streamlines workflows. These features ensure a user-friendly experience, promoting efficiency and productivity for clients and bank employees.

Closing:

As small businesses navigate their unique challenges and opportunities, your financial institution can play a key role in their success. By tailoring your services to meet their needs, you can build deep, meaningful relationships and drive real economic impact. We're eager to see how you will harness technology to support and grow these businesses.

Thanks for reading this edition of Nymbus Next—keep an eye out and subscribe for more focused insights on powering up your SMB offerings.