Small businesses are the foundation of the American economy, with 30.2 million small businesses making up 99.9% of American businesses and employing 47.5% of American employees.

Despite the size of this segment, small businesses have unique challenges such as funding, payment processing, money transfer and more. In addition, most traditional small business bank processes are antiquated and time-consuming.

My guest on the Banking Transformed podcast is Corey LeBlanc, co-founder of Locality Bank, a digital-first community bank based in Fort Lauderdale. Corey shares the mission of this start-up and how Locality is using financial technology to make processes more efficient, saving money and better serving their customers.