Month: August 2022

The technology-driven era of modern society has captured the vast area with ease for a diverse set of activities including financial transactions. Embedded finance for SMEs in the same context is the revolution for SMEs from tiring sessions of banks. Embedded finance provides financial services to SMEs at the right period by reducing friction and opening the new possibility for new clients to get engaged with. As per the survey, there can be two major models that can support digital platforms that have shifted into embedded banking for SMEs. Pass…

The SME banking and finance landscape today is highly digitized. Online banking services and mobile applications have been used by almost half of SMEs, and visits to ATMs and branches have decreased by 38%. This trend does set to continue as more customers prefer card payments and mobile banking. What can SMEs expect from these changes? Here are some key points to consider. Digital Solutions One of the main challenges that traditional banks face when serving SMEs is aging digital solutions. Until recently, banks tended to focus on enterprise and…

India has about 60 million+ Micro Small and Medium Enterprises, including registered and unregistered ones. SMEs have contributed about 40% of total manufacturing and 34% of total exports to the Indian Economy. They have become crucial; to the country’s economic growth, leading to employment generation and entrepreneurial development. SMEs are heavily reliant on debts to fulfil their start-up needs, cash flow and investment needs. Therefore, bank lending becomes the most common source of external finance for many SMEs. The government has taken a variety of measures to support SME access…

Making decisions is a significant part of managing an SME. Customer payment is one decision-making scenario that frequently results in problems. When it comes to consumer payment, you must always choose carefully because it can make or break your firm. In addition to being necessary for business, giving credit to customers is also ethical. However, this is vulnerable to credit risk, along with other things. A late-paying customer can cause turmoil for SMEs with little outside support. Maintaining a robust credit system is key to handling strict credit management and…