Banking in the Digital-First World – A New Reality for SME Banking Courtesy Challenger Banks

SMEs have always been the most vital cog of global economic growth. In the US, SMEs contributed to more than two-thirds of net new private sector jobs over the past few decades. Also, SMEs account for 97% of the total identified imports as well as exports in the US.

Apart from being the lifeline of manufacturing, retail, agriculture, and other key industries, SMEs contribute massively to a country’s international trade. SMEs are also the largest contributors to company registrations in any economy and represent a massive pool of opportunities as the creamiest layer of companies from this segment, more often tha ...