#EfmaSME19
SME Banking Revolution: Business Ecosystems, Beyond Banking Offerings, Augmented Strategy
First held in 2004, the Efma SME Banking Summit has become a must-attend annual event that focuses on the challenges facing SMEs in the evolving retail financial services landscape. From 13-14 June, the 2019 Summit in Vienna will provide the perfect platform for Efma’s members to meet SME leaders and work together to define a strategy and roadmap for successful SME banking.
In a world of cross-border business, SMEs have more complex financial needs than ever before. Banks are harnessing data to better understand their SME customers and creating innovative products and services to meet their unique requirements.
According to the Freelancing in America 2017 report by Freelancers Union & Upwork, the majority of the U.S. workforce will be freelancers by 2027. Moreover, the trend seems to be similar in other developed countries around the world led by Asia Pacific, Nordics, UK and is expanding across regions. Banks should therefore focus more on this segment and create an attractive value proposition for the whole micro segment. This trend will bring a huge number of unbanked entrepreneurs looking for financial business partners and they will definitely be looking far beyond traditional banking services. There will be millions of them with unique needs and priorities. Subsegmentation, targeting and a complex view of customers will make the difference.
Emerging neobank players
After a number of successful examples of market penetration by neobanks in retail financial services (Revolut, N26, Ant Financial and Monzo), the focus will shift to other segments, with SMEs and Micros at the top of the list. The augmented value propositions for SMEs of such players, with their specific capabilities and features, have already been launched in various markets in Europe, the U.S. and China (We Bank, GetPenta, Holvi, Ideabank and Kabbage) and will rapidly have a significant impact on traditional SME banking service providers.
It is becoming easier than ever before to find business financing as supply is gradually overtaking demand in a growing economy. Simplicity, speed and agility will become key for banking players in all areas - products, processes and customer relations. One of the fastest responses involves partnerships between banks and fintechs to pool their strengths and provide customers with additional services, beyond banking. Creating a network of such partnerships will enable banks to reach the ultimate business ecosystem status with beyond banking offerings, but this requires a new, augmented SME Banking strategy.
With the subtitle of SME Banking Revolution: Business Ecosystems, Beyond Banking Offerings, Augmented Strategy, the 2019 Efma SME Banking Summit will cover the following topics:
• Use of AI and machine learning in SME banking
• Non-financial, value-added services and freemium offers to boost loyalty and create new revenue streams
• Bank + Fintech partnership success stories
• Microfinancing, micro segment customers value proposition
• Supply finance chain programmes
• Reaching out to new customers from early stage start-ups: acquisition, retention and channels beyond banking
• Designing new products and new ways of credit scoring
• Subsegmentation and targeting - mobility, cashflow & payments, product bundling
• Cross-functional approach:
• SME business owners as premium banking individual customers
• cross-selling opportunities for insurance products: pension plans, insurance product offerings
• Global launch of Efma SME Banking Community Programme 2019/2020
And there's more... Increased knowledge & networking opportunities
Get the most out of your time at SME Banking Summit with the Insurance Summit taking place in parallel, at the same venue!
Have a look on: www.efma.com/insurance19
Efma’s SME Banking Summit will provide an opportunity for banks to drive a renaissance in SME banking, so book your place now to ensure you stay ahead of the curve!
For more details, contact:
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Jezabel Chave Event Manager jezabel@efma.com +33 1 47 42 52 72 |
Do you plan to attend with your team? Good news, discounts apply for group registrations!
Contact registration@efma.com now
What delegates said at #EfmaSME18
“Educational. Connected. Sharing”
Josephine Baliah, Head Client Experience Design, RMB South Africa, South Africa
What delegates said at #EfmaSME18
“Well organized, good presentations.”
Christoforos Chatzopoulos, Director, Head of Business Banking & Retail Loans, NBG, Greece
What delegates said at #EfmaSME18
“I found the event very interesting. Having the opportunity to see how other banks are doing their digital transformation in the SME area was of great value to benchmark our effort and find new opportunities or approaches to what we are doing right now.”
Jose Antonio Wolff Reyes, Director of Digital Strategy, Grupo Bancolombia, Colombia
What delegates said at #EfmaSME18
“useful, brought interesting insights from a global perspective, both business and tech.”
Jaroslaw Lacki, Senior Strategy Manager, ING, Germany
What delegates said at #EfmaSME18
“Has its values in terms of innovating ideas fit to these current times of change.”
Uzi Sasson, Senior Manager S.M.E Business Management, Leumi Bank Israel, Israel
Due to Covid-19, our physical events will be postponed to 2021. We will keep you posted on any further developments regarding this matter.
Our top priority remains the health and safety of all participants at our events, including attendees, speakers, partners and Efma staff.
If you need more assistance, feel free to contact us at sarah@efma.com, we would be more than happy to help.
Stay safe.
Efma team