D3 Banking Boosts Small Business Banking Capabilities

D3 banking offers solutions specifically built for small banks and credit unions with customized control, enhanced capabilities, and comprehensive functionality to manage finances.

D3 Banking, a leading provider of solutions that replace aging online and mobile banking products with a single digital banking platform, has enriched its small business banking offering. Using the D3 Small Business Banking solution, banks and credit unions can offer small business even more relevant, comprehensive functionality that provides owners with customized control and convenience in proactively managing their finances

“Most financial institutions don’t offer a solution built specifically for small business owners, forcing them to do their banking with modified versions of commercial offerings too complicated for their operations or inadequate retail solutions not broad enough to provide them with the financial tools they need to succeed,” explained Mark Vipond, CEO of D3 Banking. “This is one reason why many small businesses often seek relationships with non-banking entities, costing financial institutions valuable relationships and revenue opportunities. Our small business solution will allow financial institutions to cultivate and grow their relationships with this critical, yet often under-served segment.”

Enhancements to D3 Banking’s small business solution include:

• Advanced Entitlement Options.When delegating tasks to employees, small business owners often must permit access to the company’s banking accounts. D3 Small Business Banking offers advanced entitlement options so owners can securely monitor and manage who has access to what bills, documents or transfer functionality, with appropriate limits and controls.
• Toggle Views.Small business owners are typically required to log in with unique credentials each time they move between their personal and business accounts. With D3 Small Business Banking, both personal and business accounts can be conveniently accessed with a single log in, allowing account owners to simply toggle between account views with the click of a button. This capability makes it more natural for small business owners to use one institution for all of their banking needs, strengthening relationships and creating additional revenue opportunities for banks and credit unions.
• Business-Based Auto Categorization.By automatically categorizing all of a business’s transactions using relevant groups such as payroll and purchasing supplies, financial intuitions can present detailed reports and information about small businesses’ financial heath. This allows the business owner to better understand expenses, plan budgets and allocate resources accordingly. Banks and credit unions can also access this data to better identify relevant sales opportunities in areas such as loans and lines of credit.
• Enhanced Money Movement Capabilities: Small business owners typically don’t care how a payment reaches its destination, as long as it does so successfully and on time, at the right price-point. D3 Small Business Banking supports a variety of money movement options from bill pay, transfer to Wires and ACH payments without requiring the small business owner to understand the unique traits of each. By leveraging this solution, financial institutions can control the user interface and all the data associated with money movement activities, allowing them to easily make least cost routing decisions, all while presenting a simple, branded experience to the small business owner.

Jacob Jegher, Senior Vice President, Banking and Head of Strategy at Javelin Strategy & Research, said, “Financial institutions are currently dedicating significant attention and resources toward better serving small businesses – an often untapped source for potential revenue. Small business owners require a banking solution that enables them to connect with their financial institution in a quick, convenient and engaging manner. Financial institutions should rise to that challenge in order to best serve the customer.”

D3 Banking replaces aging online and mobile banking solutions with a single digital platform that reduces complexity, lowers cost and speeds innovation. It enables banks and credit unions to provide a consistent, personalized user experience to consumers and small businesses. Features such as advanced financial management and money movement capabilities add value to customers while providing financial institutions with the data and ability to anticipate needs and personalize interactions. The highly configurable technology allows financial institutions to respond to customer demand and market changes quickly, securing a competitive advantage in the digital future.