ARE YOU IN YOUR BUSINESS CLIENTS CORNER? Financial Institutions Must Have a Solid Strategy to Support their Business Clients.

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1 ARE YOU IN YOUR BUSINESS CLIENTS CORNER? Financial Institutions Must Have a Solid Strategy to Support their Business Clients. THOUSANDS OF SMALL BUSINESSES ARE EMERGING EACH MONTH; THESE BUSINESS OWNERS NEED SUPPORT FROM THEIR FINANCIAL INSTITUTIONS AS THEY "ENTER THE RING." THE PROFILE OF A TYPICAL SMALL BUSINESS OWNER IS EVOLVING. MILLENIAL ENTREPRENEURS EXPECT MODERN TECHNOLOGY AND EASY TO USE TOOLS FROM THEIR FINANCIAL INSTITUTION. A UNIFIED PLATFORM PROVIDES BOTH BUSINESS OWNERS AND INSTITUTIONS A CONSISTENT USER EXPERIENCE ACROSS SOLUTIONS.

2 ENRICHING EFFICIENCY of our customers operations through CONTINUOUS INNOVATION

3 HELPING NEW BUSINESSES SUCCEED There are a multitude of reasons why financial institutions must have a solid banking offering for commercial clients. Many small businesses struggle because they don t have the resources they need to survive. According to the Kauffman Foundation, a national entrepreneurship nonprofit, there are now 310 entrepreneurs for every 100,000 adults in the U.S., which translates into 530,000 new business owners every month. Additionally, the density of small businesses in the country has risen to an all-time high with 1,006.6 companies per 100,000 people, or 3.16 million businesses. With thousands of new businesses emerging each year, financial institutions also need to provide resources to their business account holders in order for them to succeed. According to the Small Business Administration, approximately 50% of businesses fail within the first year. Furthermore, the United States Bureau of Labor Statistics reported that nearly 50% of all new businesses survive 5 years or more and one-third of businesses survive after 10 years or more. With these staggering statistics, the financial industry needs get in corner with these entrepreneurs to support their ventures.

4 THE NEW FACE OF ENTREPRENEURSHIP The profile of a typical small business owner is evolving. Millennials who make up the largest share of the American workforce are starting their own businesses at a faster rate, managing larger staffs and targeting higher profits than baby boomers. In fact, BNP Paribas and Scorpio Partnership consultancy surveyed more than 2,000 millennial entrepreneurs or millennipreneurs around the globe, revealing that millennials have launched about twice as many businesses as boomers. As a result, business banking will have to change, as millennials have vastly different expectations than the generations before them. Millennial entrepreneurs are adopting digital and mobile banking technology at a much higher rate than the generations that proceeded. In fact, approximately 67 percent of millennials now use mobile banking, according to a study recently released by the Federal Reserve, and that number continues to grow. Moreover, Nationwide s recent Small Business Indicator report found that millennial business owners are the most prepared and forward-focused in the market. While this may be true, they often lack the financial tools they need to succeed. Financial institutions have an opportunity to support these new entrepreneurs and help them establish thriving businesses.

5 PROVIDE A FIGHTING CHANCE There are a number of challenges that new entrepreneurs and small businesses face each and every day. Some of these challenges include time management, customer attainment, and money management. According to a US Bank study, 82% of businesses fail because of poor cash flow. Get in the ring with your business clients and provide them efficient and easy to use business banking solutions. Often, the challenges do not stop at the small business. Many financial institutions have a fragmented approach to business banking with separate platforms and different vendors for businesses and consumers. What happens when today s consumers become tomorrow s entrepreneurs? Many institutions are left with information about their account holders in silos, providing no cross-over information from channel to channel. For institutions to gain additional insight into their consumer and business account holders, a unified platform is needed to bridge the gap. With a unified platform, institutions would have a consolidated view of account holders and would benefit from cost savings of solutions through a single provider. GET IN THEIR CORNER WITH: Convenience Cost Effective Solutions Streamlined Processing Flexibility Ease of Use

6 GET IN YOUR BUSINESS CLIENTS CORNER Changes in user channel preferences, the rising number of business accounts, and the pressure facing financial institutions to meet the increasing demand for mobile functionality require a thoughtful business banking strategy. As a result, VSoft launched a full suite of business banking services to provide institutions the resources they need to help their business clients succeed. VSoft s single, unified platform provides a seamless experience across all channels for consumers and business account holders, paving the way for a well-rounded business strategy. The platform is built on the latest technology with flexible architecture to allow for growth and adaptability to industry changes critical as consumers channel preferences change and the number of business accounts rises. INVEST IN A SCALABLE PLATFORM TO SUPPORT YOUR BUSINESS OPERATIONS FOR MANY YEARS TO COME

7 PREPARE THEM FOR THE RING IRIS IRIS, VSoft s digital banking platform spans across all devices and channels for both personal and business banking, allowing accountholders to address their banking needs anywhere, anytime and with any device. IRIS is device agnostic and features a responsive design, all while eliminating the need for separate products such as Internet banking, tablet banking and mobile banking. The consolidation of products and the consistent, intuitive interface ensures a positive user experience. Unlike other systems, IRIS features built-in imaging capability allowing retail and business accountholders to conveniently deposit a check using mobile deposit. With IRIS, financial institutions can offer their commercial accountholders a complete suite of transactional services including personal financial management, bill pay, P2P, transfers, capability to view check images, ordering checks and more. OnView Business Deposit OnView Business Deposit allows users to deposit multiple checks at once using a check scanner, mobile device, or tablet while maintaining a consistent user experience with one back-end platform. With OnView Business Deposit, both commercial clients and financial institutions benefit from the ease of use and convenience. The solution features risk management threshold profiles, role-based user management and self-administration setup. With dual control over the review process, there is less risk for duplicate detection and other errors ensuring that a more secure system is in place. These various parameters and customization features designed within this product make easy to cater to the exact needs of the numerous types of commercial clients. CoreSoft Lending Platform CoreSoft Lending provides a solution of high-demand commercial products and services that generate concrete opportunities for financial institutions to enhance their accountholder s experience, expand commercial relationships at all points of contact and aggressively compete for business clients. CoreSoft s lending platform is a flexible, easy to use system that supports any loan, regardless of loan type or structure. The user-friendly application allows financial institutions to efficiently manage and service loans, while also providing the ability to quickly bring new loan products to market. OnView Lockbox VSoft s Retail Lockbox solution provides financial institutions the ability to capture checks, coupons and documents with ease. The streamlined processing of these documents improves institution s workflows and operations. OnView CD-ROM Delivery OnView CD-ROM Delivery allows financial institutions to deliver images or paid items, past deposits and statements to their business clients for each accounting period. An efficient, cost-effective, electronic replacement for check storage and paper statements helps simplify operations for business clients, while providing the information they need for proof of payment, research and account reconcilement right at their fingertips.

8 As millennials quickly become the majority of banking customers and shape consumer expectation, financial institutions must invest in an omni-channel platform like VSoft s IRIS to remain relevant and competitive. Millennials are much more likely than previous generations to switch financial institutions, making it imperative to provide a digital banking experience that not only delivers complete convenience through any device, but can keep pace with the rapidly evolving technology landscape and quickly adopt new products and services. Failure to do so could turn customers away, putting your other services at risk. For more information or to speak to VSoft about its IRIS Omni-Channel Platform, please visit or call About VSoft VSoft Corporation offers platform-based services for the banking, financial services and insurance (BFSI) industry. Its core, payment and digital banking solutions reduce cost and maximize efficiency while providing seamless, real-time, high-volume and high-performance transactions across multiple channels. The VSoft platform can be delivered in-house, or as an outsourced ASP or SaaS model to best meet the needs of individual financial institutions. VSoft s services have been trusted by more than 2,600 financial institutions worldwide. For more information, please call , or visit or follow us on