Providing the tools SME’s need to succeed

Efma feature

30 June 2020

New Efma + Backbase report examines how to make an advanced and relevant SME app.

Banks’ interests are deeply entwined with those of their business customers. SMEs use their banks for a variety of needs. They store their money, purchase goods, and take out lines of credit. Amidst the uncertainties that Covid-19 has brought to the banking world, there is a major opportunity for banks to step up and deliver for SMEs.

For too long, SME’s have lacked the banking tools that would allow them to manage their financial affairs easily and seamlessly. In recent years, that has started to change, with fintechs sprouting up everywhere that provide tailored banking services for the critical SME segment.

Creating an app that caters to the varied needs of SME customers is no small task. Which is why Efma invited Backbase to our Efma Councils last year in Vienna and Brussels to speak to bank managers about the most important elements in building an app that provides the necessary services and usability for business customers, regardless of their size or sector.

The result of their presentations is a new report published last week entitled “SME Banking Framework – Conceptualizing an advanced & relevant SME app.” From defining your segment to data considerations, this report outlines the steps necessary to provide SME’s with the tools to compete in today’s globalized economy. This report can help serve as a guide as you strive to continually deliver and improve service offerings for your SME customers.

Access your copy of the report today!

Keywords : SME/Corporate , Digital/Mobile channels , Bank Products & Services

Geography : International