Next SME banking podcast discusses needs-based banking

Debarun Roy Choudhury, SVP and Group Head of BizSmart at United Overseas Bank, spoke with Efma’s Lukas Dzuroska about his journey into SME banking and how his institution goes the extra mile for its customers.

Next SME banking podcast discusses needs-based banking

SMEs form the backbone of so many economies around the world. They represent almost 90% of businesses globally, along with 50% of global jobs. They are instrumental in driving the economy and workforce, no matter the country. To take a deeper look at the industry and its crucial elements, we spoke with Debarun Roy Choudhury, for the next installment of the Efma-Mastercard SME Banking podcast.

In a wide-ranging conversation with, Efma’s Lukas Dzuroska and Roy looked at how the nature of SME banking has changed in recent years. According to Roy, the world of SME banking has undergone a transformation: “As the world has evolved over the last two decades it’s almost become borderless. This offers both opportunities and threats. In the past, competition for SMEs would occur in a fairly close-knit neighborhood, or at least confined to your city or country. With the internet, SMEs face competition on a global scale. But new opportunities also come with the expanded scale.”

With the concomitant increases in opportunities and threats, the top financial institutions have evolved their offerings to become true business partners for their SME clients. One of the achievements Roy is most proud of is how his bank has moved beyond being a mere financial partner to integrating banking into business solution offerings. This has earned his bank international acclaim.

For UOB, “keeping customers at the heart of everything we do is key.” The bank follows a needs-based approach. Instead of focusing on products, it works closely with its SME customers to identify pain points and opportunities. In doing so, Roy ensures his customers are seeing incremental improvements while simultaneously keeping his team motivated, knowing they are having a direct impact on the success of clients.

Lukas and Roy discuss much more throughout this conversation. To hear more, you can listen to the podcast here.