We are living in a different era
With the financial services field facing a wave of digital disruption, the sector is starting to reshape. The change is driven by new technology, regulation, the need for cost reduction and changing consumer behavior.
More than ever, small business customers have a choice of which Financial Services Institutions they have a banking relationship with. Global adoption of the API by Financial Services & Fintechs coupled with the customer having the choice to share their financial data from within Xero is shifting the power back to the customer whilst opening up opportunities for banks to innovate and better serve the small business market.
The Small Business market aggregated
Xero is the one place that connects a once highly fragmented small business market. The Financial Web makes it easier for financial institutions to identify, reach and serve small businesses globally through one platform, at scale. Xero is connected to over 862,000 small business subscribers across more than 180 countries. More than 89% of our small business subscribers globally are connected to an advisor, meaning the data within Xero is of high integrity.
Thanks to the Financial Web, banks can truly digitise their small business strategy at scale. The Financial web ensures digital innovation, high integrity two-way data share and more informed insights into the small business community to drive better customer service through a competitive product suite. The outcome for small businesses is more accurate financial insights, easier access to capital and safe payments solutions.