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Primax Banking in Focus: Doubling Down on the SMB Opportunity 

Primax Banking in Focus: Doubling Down on the SMB Opportunity 

Due to their deeper product penetration, higher deposit balances and greater cross-sell potential, small and medium-sized businesses (SMBs) represent substantially higher lifetime value than the typical consumer relationship. But unlocking the full opportunity of SMB banking starts with a deeper understanding of how SMB needs evolve as they grow.

The 2026 Primax Banking in Focus explores SMB financial choices, preferences and loyalty and reveals where community banking institutions are uniquely positioned to win and expand their role over time.

Key takeaways from the report include:

How SMBs define their primary financial relationship

What are the drivers of competitive SMB products 

Why businesses switch their FI 

How serving SMBs differs from a consumer banking model 

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    %

    of SMBs use multiple banking partners

    %

    of micro and small SMBs would switch FIs due to new or increased fees

    %

    of lower-middle-market businesses would switch due to security or fraud concerns

    Who Should Read This Report?

    Chief Commercial Banking Officers

    Chief Strategy Officers

    Vice Presidents and Directors of Business Products

    Vice Presidents and Directors of Cards and Payments Solutions

    View All Primax White Papers