27th November, 2018
Business Insider Intelligence, Business Insider's premium research service, features Strands’ whitepaper on SME Banking in a report about business financial management. The study looks into how FinTechs are targeting small-and-medium enterprises and pushing incumbents to fight back.
SMEs have been historically underserved by financial services providers, but that's starting to change as both FinTechs and financial institutions continue to roll out SME-targeted services.
“Despite the emergence of digital disruptors in the banking sector, banks have a unique opportunity to leverage their long-established relationships with SMEs, though they need to act quickly.”
In the report, Business Insider analyses the areas in which banks have failed SMEs when it comes to financial services provision — including credit, digital business services, and bank accounts — and give examples of where FinTechs have successfully filled the gaps.
It also provides examples of financial institutions that have introduced new SME products, and their verdict on which type of supplier dominates each area of the market for SME-focused financial services solutions.
“Solutions like Strands BFM can potentially increase SMEs loyalty to their banks, so more would be wise to roll out financial services.”
Strands, a leading provider of business financial management technology, developed a SME banking solution designed to offer the bank’s business clients an intuitive, value-added product that is implemented seamlessly into their online banking portal.
Purchase the full Business Insider Intelligence report: The Small Business Fintech.