Small businesses power nearly half of the US economy, yet when it comes to banking, they’re often left behind. Traditional financial institutions still rely on outdated systems and manual workflows, leaving bankers with little time to build the advisory relationships small business owners say they want.
Crux Analytics is a New York–based fintech rethinking how banks engage with this vital segment. Co-founded in 2023 by brothers Jacob and Nathan Bennett, Crux combines intelligent automation, real-time analytics and AI-powered insights to help bankers cut through the noise and focus on what matters: timely, tailored support for small business clients.
In this week’s Behind the Idea, we speak to Jacob about his own small business roots, the pandemic moment that sparked the idea, and why now is the time to redefine relationship banking.
Tell us more about your company and its offering
Crux Analytics is a relationship intelligence platform transforming how financial institutions engage with small businesses. Our platform combines intelligent workflow automation, real-time analytics and AI-powered prioritisation to empower bankers to drive more valuable outcomes.
We automatically identify the best prospects, gather essential information, and create tailored engagement strategies without hours of manual preparation. The system initiates targeted, personalised engagement with business owners – then equips bankers with clear visibility into the optimal time to connect, the most relevant products to offer, and ongoing relationship monitoring, all without human intervention.
What problem was your company set up to solve?
We’re solving a fundamental issue in small business banking that I experienced first-hand while running a small consultancy. The trusted advisor role has eroded as bankers become increasingly burdened by operational tasks, diverting focus from supporting business owners. Small businesses drive nearly half of all private-sector employment and more than 44 per cent of the US GDP, but they’re often treated like a line item instead of a relationship.
Research shows small businesses increasingly want financial advice (up 28 per cent since 2018), not just transactions. Yet bankers spend most of their time on research and administrative tasks rather than building advisory relationships. Current market volatility highlights why this relationship gap is such a critical problem.
Since launch, how has your company evolved?
I founded Crux in New York City in 2023 with my brother Nathan. Since then, we’ve developed the only solution in the market focused specifically on supporting the foundational relationship between bankers and small business owners. We’ve built our platform to be fully operable as a standalone solution, with a typical onboarding taking about a week. We’re designed to enhance, not replace, existing banking systems. We recently announced our partnership with Associated Credit Union of Texas and are actively working with other financial institutions that recognise the value of enhanced small business engagement.
What has been the biggest challenge or most ‘tricky moment’ to overcome?
Our biggest challenge was addressing the disconnect between what small businesses need and what banks are operationally equipped to provide. This gap became glaringly obvious during the Covid-19 pandemic, when small businesses struggled to secure timely financial support due to outdated systems and inefficiencies.
Building a solution that could genuinely transform banker workflows while delivering meaningful value required us to rethink the entire relationship management process from the ground up whilst also working within a familiar framework for the banker, creating something that dramatically reduces preparation time while increasing interaction quality.
What are your biggest achievements or ‘proudest moment’ so far?
One of my proudest moments so far has been launching our partnership with Bankwell. Seeing Bankwell’s commitment to their local community and being able to empower their bankers with actionable insights has been incredibly rewarding.
With Crux, Bankwell can now anticipate the unique needs of their small business clients and step in with personalised support before challenges become crises. Watching our technology help Bankwell deliver on their promise of proactive banking for Connecticut’s small businesses is a tremendous validation of our mission and the impact we set out to make.
How would you describe the culture of your company?
Our culture is rooted in our founders’ experiences: my background running a small business and consulting for Fortune 500 companies and startups, and my brother Nathan’s expertise in engineering and product strategy from roles at Wesper and Boston Scientific. We’re driven by a genuine desire to solve real problems faced by both bankers and small business owners. We value innovation, efficiency, and the human element of financial relationships. We believe technology should enhance human capabilities rather than replace them, enabling bankers to move beyond transactional duties to become true strategic advisors.
What’s in store for the future?
We’re focused on expanding our impact as economic volatility continues to rise. According to the NFIB, the net percent of small business owners expecting better conditions just saw its steepest decline since 2020. In periods like this, banks that proactively support clients with actionable intelligence, not reactive responses, will stand out.
We’re committed to helping financial institutions be those proactive partners by enhancing our AI capabilities, expanding our relationship management tools, and developing more sophisticated analytics. We have significant product growth planned over the next six months as a result. Our vision is to transform business banking from a transactional service to a strategic partnership, empowering bankers to be the trusted partners small businesses are increasingly seeking.
