26-06-2025
Why It's Time For Fintech To Simplify To Help SMBs
Eyal Lifshitz is CEO of Bluevine, a leading provider of small-business banking.
There's a persistent myth that small-business owners resist adopting new technology—they're often framed as reluctant adopters clinging to checks and spreadsheets in an increasingly digital world.
But that misses the point. Small and medium-sized businesses (SMBs) do adopt tech when it works for them. More than 5 million SMBs have websites on Wix or Squarespace. Mobile card readers are standard practice at farmers' market stalls. Plenty of solo operators use Google Docs and Calendly without a second thought. The tools aren't the problem.
The problem is financial fragmentation.
SMBs juggle banking, invoicing, bill pay, expense tracking and credit across a patchwork of disconnected tools. They spend more time navigating software than running their businesses. It's tiring just to imagine.
Fragmentation isn't just a headache—it's a roadblock to scaling. Among small businesses focused on fast or steady growth, 51% say streamlining systems and operations is one of their biggest challenges.
It also increases the risk of errors and poor cash visibility. When tools don't talk to each other, money slips through the cracks.
Most software isn't free, so every new system means another monthly charge. Learning curves take time. Switching between tools slows people down. And when financial information is spread across six different platforms, it becomes harder to make informed decisions quickly, like when to invest in equipment, who's late on payments or how much runway is left in the month.
The problem isn't a lack of options—it's in developing solutions that seamlessly integrate into the schedules of small-business owners. For large enterprises, that concern is secondary—they often have infrastructure and head count entirely dedicated to managing various operating systems.
Small businesses and their owners don't have that luxury. Instead, small-business owners often act as the CFO, head of customer service and collections department, all before lunch. The more systems they juggle, the less time they spend on growth. And it's with those needs—financial simplicity and precision—in mind that I launched my company in 2013 and, more recently, that we launched new invoicing and payment tools.
Financial tools work best when they disappear into the background. Ideally, these tools should be as seamless as possible—no business website required, no fancy setup, no coding, no friction. By offering simplified tools like these, fintech can help unlock a level of financial precision for millions of previously underserved small businesses and free up others to get back to focusing their attention on growing their businesses by reducing the endless app fragmentation.
The challenge isn't getting small businesses to go digital. They're already there. The challenge is building tools that work on their terms, not tools that assume they have a CFO on staff.
I'm excited for what the future holds for small businesses in America and look forward to seeing fintech rise to that challenge. With the right technology, we can free up the small-business owners across America to focus on what's most important—growing their businesses.
The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation.
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