SHIFT · US
SoFi, Square, and Capital One launch competing SMB products in unified push for small business wallet
Within one week, three major fintech and neo-banking platforms (SoFi, Square, Capital One) announced new loans, AI integrations, and research tools targeting small businesses. All three are racing to position themselves as the "next employee" for SMBs.
WHY IT MATTERS
Consolidation of SMB financial services around a single platform is accelerating; banks and fintechs are now bundling lending, accounting, and AI-powered operations tools to lock in SMB switching costs.
Source: Tearsheet · 2026-07-08