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How to be a Rock Star with your Small & Medium Sized Business Customers? Make Life Easy with Digital Innovation, without Breaking the Bank

October 25, 2018

It can be challenging for community banks and credit unions to offer the latest technology, with everything on your plate, all while staying compliant and keeping the regulators happy. Today’s small business customers crave innovation, want it easy and seamless and on their schedule.

Digital Innovation

Now more than ever, small and medium sized businesses (SMBs) are looking for more innovative and digital options when it comes to banking. Xpensable offers a digital expense management platform that can be fully integrated into a bank’s core system. This gives banks a selling point to acquire new customers and retain current clients. The key is offering innovation and simplicity, and Xpensable can help do that.

BIG Opportunity

65% of SMBs are still using manual procedures to create and manage expense reports. This requires countless hours of tiresome data entry and other dull work. A few of the problems when dealing with manual expense reporting are “lost receipts”, manual data entry, and most of all reconciliation on the back end, a problem that Xpensable fixes by letting employees use a smartphone camera to capture the expense with the receipt image and submit for approval, which is accessible for business owners all within their online banking portal, making the process as painless as ever.

Banks can offer business customers a solution to this problem by offering them a real-time digital fix for manual expense reporting. Xpensable helps streamline expense reports, give businesses more control over them, and helps businesses save time and money on expense reconciliation.

Xpensable is the first expense management solution fully integrated within the online banking system and part of the singular ecosystem, making it easier than ever for business to deal with expenses in a place they already know, use and trust....their online banking.

SMB customer  Retention

A study done by Fiserv shows with each new product adopted by a customer that a bank offers, customers’ life cycles increased anywhere from 200-400%. Xpensable can be the main system of records for your customers all within your online banking platform creating “stickiness” that will only increase retention.

For a demo or to learn more about Xpensable, click here.

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