Washington DC, September 29 2022 - The future of delivering inclusive and effective banking support for the world’s small and medium sized enterprises will be driven by digital transformation, according to the lead organizers behind this year’s Global SME Finance Forum 2022 in Phnom Penh, Cambodia.
More than 350 leaders and senior executives from over 180 banks, Fintech and regulatory agencies physically attended the three- day forum, co-hosted by the National Bank of Cambodia and the International Finance Corporation. More than 60 countries were represented with on-site attendees from Asia, Africa, Europe, the Middle East and South America joined virtually by more than 280 SME financing professionals from around the globe.
Harnessing digitalization for delivering sustainable and inclusive finance for small and medium sized enterprises was the key focus of this conference. Experts, innovators and banking professionals shared the latest trends and best practices leveraging emerging digital technologies. While in Cambodia, participants also had the opportunity to learn about the digitalization journeys of a number of local financial institutions.
The 2022 Global SME Finance Awards winners were also announced during the forum to celebrate the outstanding achievements of financial institutions and fintech companies in delivering exceptional products and services to their SME clients.
Discussions during the three-day conference ranged widely from how to improve the overall landscape to ease funding for the most disenfranchised SME businesses, to how to take advantage of innovative technologies in SME banking to reduce their collective carbon footprint. The talks also revolved around how to overhaul and tailor regulatory frameworks to make sure that new tools deliver positive benefits for SMEs.
“A common thread throughout the forum was the enthusiasm of banking institutions to embrace new ways of thinking and new ways of reaching out to small and medium sized enterprises,” said Matthew CEO of the SME Finance Forum. “Whether its partnering with the growing number of visionary fintech companies or using alternative data to establish the creditworthiness of these enterprises, it was evident the future of inclusive, effective small and medium enterprise banking will be driven by digital transformation.”
About the SME Finance Forum
The SME Finance Forum works to expand access to finance for small and medium businesses. The Forum operates a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs. Established in 2012 by the G20 Global Partnership for Financial Inclusion, the SME Finance Forum is managed by IFC. For more information, visit http://www.smefinanceforum.org
