Ross Buhrdorf: SMBs prefer major commercial banks over fintechs for primary deposits
Ross Buhrdorf · ZenBusiness Breaks $45m Revenue Relentlessly Focusing on 220,000 Underserved Owners of Service Businesses · Jan 10, 2022 · at 13:35
ZenBusiness CEO Ross Buhrdorf explains customer banking behavior and why ZenBusiness relies on FBO holding accounts and banking partnerships rather than becoming a primary deposit institution.
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“Our customers don't want us to take deposits. They don't, you know, the, we're embedded fintech, so we have You know, a FBO account, or think of it as like a Venmo account. We have a holding account. That's what our customers want. They don't, they want Chase. They want Bank of America.”
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