A follow-up series of Banking for small and medium enterprises by IBM Institute for Business Value
Small and medium-sized enterprises (SMEs) form the backbone of the global economy, representing 90% of all firms, employing approximately 70% of the world’s workforce, and contributing 50% to global GDP.*
Despite their significance, SMEs face many challenges that demand innovative banking solutions. Banks and neobanks are responding with new business strategies and tech-led innovation.
The IBM Institute for Business Value (IIBV) invited 10 financial institution executives to discuss their strategic perspectives on how banks compete in diverse, dynamic SME markets.
Banca Intesa Sanpaolo: Davide Alfonsi, Group Chief Risk Officer
BBVA: Gokhan Koca, Global Head of SME Banking
CreditEnable: Nadia Sood, CEO and Founder
Mashreq Bank: Rajeev Chalisgaonkar, Head of Business Banking and NEOBiz
Mastercard: Jane Prokop, Global Head of SME
Nacha: Jane Larimer, President and CEO
Nubank: Maximiliano Damian Rodrigues, General Manager, SME Business
Santander: Franco Fasoli, Head of SME Banking
State Bank of India: Challa Sreenivasulu Setty, Managing Director (International Banking, Global Markets & Technology)
Wema Bank: Ayodele Olojede, Divisional Head of Retail and SMEs
Their expert opinions enriched , a point of view that the IBM IBV published in collaboration with the Banking Industry Architecture Network (BIAN). Our extensive research project is based on a global survey of almost 700 banking executives and more than 1,000 SME owners and managers. It also benefits from the expertise of the SME Finance Forum, managed by the International Finance Corporation (IFC).
What is emerging is a blend of branch services, human relationships, and enhanced digital access to mold SME banking along the varied needs of their diverse clientele.
By reading The voice of the makers compendium to our research study, you will access reflections about the current state of SME banking and its fintech future across different geographies. Four strategic actions were recurring themes in our conversations:
- Go beyond branches, blending human and digital engagement.
- Become an ecosystem catalyst, expanding services beyond banking.
- Refine credit risk management with new data and AI.
- Help SMEs to save time and add critical business value.
* “Financial Institutions Group (FIG) MSMEs.” International Finance Corporation (IFC).
