Small and medium-sized businesses (SMEs) represent over 50% of worldwide employment and contribute to over 40% of national GDP in emerging economies. Furthermore, SMEs generate an estimated $850 billion globally in revenue for banks every year. Yet despite the significant opportunity they present to financial institutions, SMEs often struggle to get the finance they need to grow (and sometimes to survive). It’s a decades-old concern.
But what do banks think about SMEs? Are they a relevant source of business and growth for banks? What are the main challenges that banking leaders face? What key initiatives and what benefits are they looking at? Is there a silver bullet that will make it easier to go digital and keep up with new entrants? We decided to find out.
Our initiatives go beyond digital transformation and reach the service model and sustainability topics, the blended result being a consistent, smooth, and intuitive experience for our SMEs.