SME Banking in Turkey: Customer first 31 May 2021

Global SME Banking business has been undergoing a huge transformation over the past decade and this revolution will continue for at least the next 2-3 years in the most dynamic economies around the world. The changes will not only be the result of a post-Covid world where SMEs are in the spotlight of future banking strategies. It all started with a perception of SMEs being an “underserved segment”. Many banks have realized that there is enormous potential in serving the proverbial “backbone” of global economies. Since then, we’ve seen huge developments and offerings in SME Lending, the introduction of so called “non-financial service’s” which transformed into more complex beyond banking offerings, and the construction of SME banking ecosystems. The entry of many fintechs and neobanks means that there is still a gap between the demands of SMEs and supply from incumbents in the market and a significant market to serve.

Covid-19 has not only triggered faster digitization with new digitally-based sales & service model adoption, but also brought advanced analytics and AI to the forefront of SME banking strategies. What we will most likely see in the future is the top players leveraging all the technological developments and finetuning the basics of an individual approach to excel at scale.

Why deep-dive into SME Banking strategy in Turkey?

”Being already there and waiting for SME customers to come and adapt.” This is how we would define the state of SME Banking in Turkey. At Efma, we’ve been following the innovative approach and digital channel adoption by Turkish banks for many years now. What had been successfully implemented in the retail banking segment has now made its way into the advanced SME model. Most of the leading and challenger banking players have developed an impressive SME Banking value proposition for years now.They had just been waiting for SMEs to come. The Covid-19 pandemic was an ideal trigger to show customers what they’ve got ready to roll for them.

In the following pages, you’ll have a chance to understand the SME banking landscape in Turkey more in-depth. From our experts and advisors in the intro, in-depth banking interviews in the core, and highlighted benchmarking data in the key findings section, this will provide an overview of a dynamic banking scene. Happy reading!

Download files:

You need to be logged to download a study. Sign in

Related Content