What to consider as AI, technology, and financing influence business decision making
As 2025 gets underway, there are changes coming from the banking world that business owners should consider as they put plans in place to achieve their financial goals.
While some are positive and can bring those goals closer, others carry potential risks that will need to be addressed.
Cybersecurity and Fraud Prevention
With the rise in cyber threats, banks are investing heavily in cybersecurity measures. Real-time fraud detection and automated compliance solutions are becoming standard to protect sensitive information and maintain customer trust.
What it means: Look for additional layers of security (i.e. multifactor authentication, app updates) in GRB’s business banking systems. Consider shoring up internal processes related to system access to prevent fraud. Also, beware of the increasing use of AI in fraud schemes.
Centralized Cash and Liquidity Management
Businesses need real-time visibility into their financial position. This helps them manage their cash flow more effectively and make informed financial decisions.
What it means: GRB recently implemented changes to its Treasury Management Management solution that improves fraud protection and enhances the information available in its Treasury Management mobile app. Ensuring customers can access and manage their business accounts is a top priority.
Maximizing Benefits
There are a number of federal and state programs designed to help business owners earn more and save more.
What it means: Reach out proactively to your GRB Relationship Manager and discuss your business plans for 2025. There may be ways to secure additional benefits for your business through SBA, NYS Linked Deposits program, CDARs and more.
Focus on Small Businesses
Banks are enhancing and redefining their offerings to cater to small businesses, gig workers, and other non-traditional business customers. The National Federation of Independent Businesses reports optimism among business owners for 2025.
What it means: While always a strength for community banks, providing flexible and relevant products and services creates an opportunity for banks like GRB to support the businesses in our community that are poised to grow. In 2024, GRB was the leading SBA lender in the Rochester region.
