Digital banking may be ubiquitous in both the consumer and business sectors, but that hasn’t eliminated the demand for banking support and assistance from real people. In fact, when it comes to serving small and midsize businesses (SMBs), the human touch is more valuable than ever. 

New survey data reveal that today's SMB owners want a combination of service channels—enjoying the convenience and 24/7 access of digital banking for relatively simple tasks, while also having access to the hands-on expertise and reassuring guidance that only a human can provide, especially for more complex or strategic decisions.

For SMBs, fulfilling this demand for hybrid, dual-channel servicing requires choosing a bank that can effectively blend fast, convenient digital services with personalized, relationship-based service from bankers who understand a company and its unique needs. 

A recent BankUnited survey  of 200 Florida-based SMB owners offers some key insights into their preferences and priorities around banking services. 

Among the study’s key findings was that, while 70 percent of respondents expressed positive attitudes toward digital-only banks, just 2 percent currently use one as their primary banking partner. Meanwhile, a combined 55 percent of SMB executives cited local branch access/in-person support or personalized customer service/relationships as among their leading criteria when choosing a bank partner. These results indicate widespread demand for the ability to access human bankers rather than digital tools for some types of services. 

This pattern is also reflected in data from the banking industry. In the FDIC’s 2024 Small Business Lending Survey, nearly all institutions emphasized in-person, high-touch channels for developing relationships with their SMB customers, while using digital tools primarily to provide day-to-day services. 

John Kanas Jr., Senior Vice President of Commercial Private Banking at BankUnited, believes the best relationships are built on more than just transactional business. Rather, they are built on trust and long-term commitment.

"Anyone can offer lower fees or cheaper rates," he explains, "but to truly win business and build lasting relationships, you have to show that you care more, that you're invested in the success of your clients. It's through these deeper connections that clients come to view us as true partners in their companies’ trials, tribulations and successes.”

The BankUnited study offers additional insight into the most popular types of financial tasks SMB owners are comfortable completing digitally. Mobile banking apps and online platforms led the way, with 65 percent and 57 percent of respondents, respectively, reporting active use of those services. These offerings were followed by more narrowly targeted digital features, including remote check deposit (39 percent) and payment automation (30 percent).

On the other hand, SMB executives indicated a strong preference for in-person banking when it comes to handling more complex, strategic functions or providing assistance, with only 14 percent using digital lending or loan application tools and just 18 percent comfortable with digital customer service chatbots. 

As the results make clear, SMBs are eager for the convenience of digital tools, but they still want personalized service, guidance, and support from a human when making an important financial decision for their company or trying to solve a problem. 

The BankUnited survey found that SMB executives face some common business challenges, with 41 percent struggling to reduce business expenses and 27 percent falling short on revenue forecasting accuracy. Meanwhile, 33 percent cited accessing capital to fund growth as a key priority over the next year. 

Solving these critical issues requires more than even the most cutting-edge digital tool. Instead, SMB executives need tailored guidance from a banker who is engaged in the dynamics of both the company’s value proposition and the regional market. 

For example, a small construction company owner looking to expand may need to choose among various loan types or lines of credit to fund the expansion. To make this crucial decision, the owner can’t rely solely on digital tools; they need a banker who understands the local construction industry’s seasonal fluctuations, knows the local real estate market, and can help structure financing that protects cash flow during slower periods.

This approach to personalized banking focuses less on a sales pitch and more on prioritizing trust. Leslie Fischman, a Commercial Banking Relationship Manager, maintains regular in-person visits and engages directly with her clients’ CEOs and CFOs. Through ongoing conversations, she provided clarity on BankUnited’s services, the transition process, and long-term financial strategies designed to support the company’s growth. “It’s about understanding the client’s business and proving our value–not just selling bank products,” she says. 

The value of human support can be even higher when things go wrong. Imagine the case of a small merchant discovering a suspected fraudulent transaction. For the owner, it’s imperative to be able to speak with a real person to understand the full scope of the issue, determine if other transactions may be affected, ensure that payroll will still process on schedule, and most importantly, rest assured that the bank is actively dealing with the situation and protecting the business. No chatbot, no matter how sophisticated, can offer the same level of empathy, understanding, and reassurance as a human can. 

For SMB leaders, it’s vital to select a bank that can keep up and meet these needs whenever and wherever they arise. Contact BankUnited today to learn more about supporting your business with the perfect balance of digital convenience and personalized expertise.