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The digitization of bank services was a factor arising from the pandemic and also from Open Finance initiatives. As a result, it is possible to observe a greater number of banks and financial institutions, which have increased their offer of bank services in the market, expanding their portfolio to adapt to the digital environment.

In addition, the expansion of the portfolio of bank services has the main objective of better meeting the needs of companies and consumers, and optimizing the experience of these users, with personalized and tailored services.

Open Banking is one of the influencers of the increase in the number of new bank services. Allowing the sharing of financial information between users and institutions – with consent and security – promotes competition between these financial institutions and, consequently, increases the offer of bank services for consumers and companies, according to the reality of each one.

Small and medium-sized businesses are the ones that are most looking for better options for digital bank services. This makes room for new creditors to stand out, requiring traditional players to innovate to keep pace with market developments.

Having easy access to bank services has numerous benefits for these companies – and for the economy in general. After all, it helps improve cash organization and reduce debt in these businesses.

In all cases, technology is always an ally of banks and fintechs in offering these banking products and services. Keep reading to understand what are the main trends for B2B banking!

What are bank services?

The portfolio of products and services offered by financial institutions is intended to meet the demands of users and companies and satisfy their needs.

We can define bank services as resources that raise or invest capital by financial institutions, according to the needs of the consumer or company. All this is to generate income and encourage financial movement in the market.

For example, loans, granting of credit, financing, advances, and overdraft, among other resources, are types of financial services that banks and fintechs provide. The purpose of this may be to improve a company’s cash flow management, reduce defaults, control expenses, increase sales or boost purchasing power and investment.

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What are the main trends in B2B bank services

Technology has provided the financial market with rapid growth and countless business opportunities. Traditional banks had to adapt to the digital environment, while countless fintechs and digital banks emerged.

With the heated financial market, and with fierce competition, consumers are at the center of attention. All the time, financial institutions compete for the best offers of financial services, which best serve these users digitally and provide the best possible experience, free of bureaucracy and time-consuming processes.

The demands of companies and consumers increased, at the same time that the number of possibilities and new financial services appeared. Check below the trends of B2B bank services that your company can adopt to keep financial management up to date:

Digital Account

A digital account is a virtual bank account, which allows the user to carry out all of his financial management, from account opening, online service, transactions and operations, and credit requests, among others. Everything digitally!

The ease that a digital account offers, without bureaucracy and without having to go to a bank branch, attracts countless companies.

Digital Payments

Digital payments are financial transactions carried out online and settled directly into the chosen account. There are several digital payment financial services available in the market. For example digital wallets, credit, and debit cards, payments by Pix, QR Code, and automatic debit, among others.

It is extremely beneficial for companies to adopt digital payment methods, as this facilitates transactions, increases control of cash flow and all financial management, reduces the number of frauds, and optimizes the entire business.

Recurring Payments

Recurring payments are often used by companies that offer services that require a periodic payment from the customer, such as subscriptions or recurring monthly fees – companies that offer streaming services, for example.

Payment is collected according to the frequency chosen by the company’s customer, who can use options such as credit card, direct debit, or even bank slip as payment method.

Regardless of the segment, for companies, it is an excellent loyalty strategy for their customers, who start to maintain more lasting relationships and can enjoy all the benefits that these businesses have to offer.

Prepayment of Receivables

Many businesses need help and resources to manage cash flow in their operations. For this, the anticipation of receivables is a measure that allows these companies to request amounts to be paid in the future by third parties – customers, and suppliers, among others.

In the current scenario, because of the increase in business opportunities in the financial sector, numerous automated tools have been developed by fintechs to optimize operations. Some of the solutions even already have tools that manage the receivables prepayment process practically and digitally.

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How can banks and financial institutions offer better financial services?

The offer of digital bank services, such as access to intuitive applications that are easy to view and manage financial activities, loan requests, and bank account management is essential.

In addition, offering financial services tailored to the reality of each business is a differentiator.

Overall, we can conclude that with new businesses and new technologies emerging in the financial market all the time, the user experience is being increasingly valued. With the increase in the number of opening bank accounts, users tend to have greater expectations regarding the quality of financial services offered by these institutions.

Speedy.io: like a bank, but better.

Now that you already know the main trends for B2B bank Services, how about getting to know Speedy.io?

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Dashboard for managing and controlling your charges;
Customer registration and control;
Notifications about the status of your charges;
Personalized SpeedyPay Invoice issue with description and your company logo;
Tax note issue;
Your client chooses how to pay the invoice or invoice, which can be via credit card, PIX QRCode, bank transfer, PEC Flash, or cryptocurrency;
Account deposits via credit card, PIX QR code, TED, bank transfer, PEC Flash, and cryptocurrency;
Online and exclusive support during business hours and much more!

Speedy.io helps you manage your finances while you focus on what matters most: delighting your customers.

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B2B Bank Services: discover the main trends11 min read