It takes Three to Help SMEs: Banking, Finance & Accounting, and Technology

August 18, 2018

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MONTHLY ANALYSIS

Are the SMEs finally going to get their dues with the evolving banking services driven by technological advancements after years of being under-served? Or will this innovation be driven by neo-banks and FinTechs?

Let’s start with banking. Banking’s progressive shift began with the evolution of several retail-banking innovations, largely because of the added value proposition offered by these superior, AI-driven FinTech experiences. The last 5–7 years have seen the emergence of various business models designed around making the retail banking experience seamless – talk about PFM, instant payments, wallets, recommendations, chatbots, and so on.

SMEs, despite being such a crucial component of global economic growth, have been trailing when it comes to innovations tailor-made ...

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