Next generation SME banking: The future of SME revenue growth opportunity in the digitalization era 29 September 2015
Efma and Axis Corporate are delighted to present our joint publication “Next Generation SME Banking, the future of SME revenue growth opportunity in the digitalisation era”
Over the last few years, due to the digitalisation of the world, the behaviour and needs of customers are changing substantially, which in practice has meant that many organisations have set up digitalisation strategies. However, only few retail banks have been successful in fully digitalising their core customer proposals or their end-to-end processes. Clients require new services, more transparency and new channels of communication with customers based on the anytime and anywhere demand.
Implementing a digital banking model involves more than just taking on a certain technology. The leading players in the field of transformation are improving customer experience and launching more efficient products and services on the market that are quick and easy to acquire.
Anyway the banking sector is not a pioneer in implementing innovative changes, but it is an indispensable step, because clients are expecting a new experience with their institutions.
But what about the SME banking segment? The SME banking segment has always been characterised by being one of the most profitable client profiles for the institutions. Banking clients require more tailor-made offers, advice and quick solutions. They want the bank to become a business partner. If to this we add the digitalisation transformation of the client, it is obvious that the financial sector must evolve to adapt to a new period based on new demands.
On the basis of this research, the report explores how European banks see the future of the SMEs’ revenue growth opportunity, the primary focus is to give this segment a boost and how digitalization provides an entry path to attract and engage customers or to increase this target profit.
The Report includes the vision of European SMEs senior executives who were directly interviewed who shared with us the huge challenges that banks are facing in the SME segment.
The Insights, developed by some of our banking experts, give us a vision and opinion about the trends for the future about the market, the digital transformation process in traditional banking, the future SME client trends, the evolution of channels and digital customer experience, or how digitalization will bring new product porfolios.
We truly hope this study will give you a holistic view on recent SME segment trends and the challenges and solutions in this highly diversified field.
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