BRIDGING THE MIDDLE: SME BANKING TODAY

SMEs are companies with financial needs that are too large for microfinance but too small for corporate banking models to properly serve. They are a substantial and economically significant sector in almost every country on the planet. SMEs account for over 50% of national output in high-income and several middle-income nations. The SME banking industry is in upheaval. It has evolved from a market thought too difficult to serve to a strategic objective for banks worldwide. The “missing middle,” which refers to the gap in financial services available to SMEs,…

Significance of Embedded Finance in Pandemic Stricken Economy

The banking and financial services for many Indians have shifted to digital post-pandemic. As per the leading company Forrester, even before the pandemic, 59% of the Indians were open to accepting a digital-only bank. This trend has become more widespread after Covid and financial services are now moving towards a digital platform. What is embedded finance? It is a financial solution, like payments or funds embedded into a non-financial company to offer a seamless and customised customer experience. With an increase in non-banking services around the world, embedded finance has…

How 2021 is Shaping the Crucial Drifts of SME Banking Industry?

In the coming years, banks will need to continuously improve their technology to match the needs of the markets. In the future, SME banking will be the biggest trend in the financial markets. Some of the biggest matters relating to SME business operations include the opportunity to run sustainable units. These sustainable banking trends are being designed to serve smaller businesses globally. It is time to understand the opportunities which will help in running competitive, innovative, and sustainable SME banking systems. The SME Customers are expecting banks to provide intelligent…

Future of Automation in the Banking Sector

As the automation wave has increased in the banking sector, its capacity has increased and now the employees have more time to focus on bigger value projects. This opportunity should be captured by the banks to take a strategic approach rather than a tactical approach. Automation in the banking industry has been a big focus and an area of huge interest globally in the banking industry. Banks have started deploying the latest automation techniques to deliver a wave of productivity, improvement in experiences, and cost savings. The results of this…

How can Banks Assist SMEs in these Challenging Times Post- COVID?

With the current pandemic affecting the global economy, financial institutions and banks have started navigating to the post-COVID- 19 strategy. This is the long-term outlook to improve the bank’s crisis response. All the global banks including the community banks are struggling with their future strategy. This strategy is focused on supporting the small businesses during the crisis and taking the economy to the ultimate salvage. PwC recently surveyed to understand how small businesses are coping in the United States.  It was seen that although the small and medium businesses are…