target audience: TECH BUYER Publication date: Nov 2023 - Document type: IDC MarketScape - Doc Document number: # US49787323
IDC MarketScape: North American Small Business Lending Customer Experience Solutions 2023–2024 Vendor Assessment
This IDC study uses the IDC MarketScape model to provide an assessment of a select list of technology vendors that offer small business lending customer experience solutions to financial institutions and fintechs that provide a variety of business loans in the North American market.
"Over the past few years, the amount of small business ownership has risen sharply creating more opportunities for financial institutions to deepen their relationships with their customers," says Marc DeCastro, research director, Consumer Banking Digital Strategies at IDC. "As these small businesses grow, they will likely require access to credit and will gravitate toward solutions that are easy to use and tailored to their needs, whether that be from a traditional lender, a nonbank lender, or a pure digital lender. Finding the right solution will be key to attract this growing and profitable customer segment."