Even though SMEs represent about 90% of businesses and more than 50% of the employment worldwide, banks are yet to find a quick and reliable way to serve small businesses. Why is this happening and how can banks help SMEs thrive?
Manual processes, cumbersome legacy technology and regulatory constraints have limited the extent to which banks have been able to serve and support SMEs. But SMEs are key to the economy and governments are asking banks to stand up to find ways to support them. Could COVID-19 support loans be seen as a catalyst? What can banks do to reduce risk and provide easier access to finance while at the same time making this line of business more profitable?
During this webinar we’ll explore:
- The current state of SME Lending: key trends and drivers changing the small business lending landscape, the impact of regulatory changes and of the pandemic, SME Lending pain points and how lenders can benefit from the changing dynamics;
- Practical examples – who has done SME Lending right: what banks can learn from the SME Lending pioneers and FinTechs, how some traditional banks use out-of-the-box business models to better serve SMEs;
- How banks can improve SME Lending: from creating tailored products and journeys around the customer to building exceptional customer experiences driven by data-rich insights and enabled by automation;
- How banks can use technology to act and react as fintechs: SME Lending as a growth area – how the right technology can help banks serve a wider range of SMEs and drive up the volume for SME Lending.
