EXPERT FORECAST : BANKING AND FINANCE
Thomas Becher , Head of SME Banking at SAP Fioneer
Three ways SMEs can be supported by specialised banking capabilities
Easier access to financing : Cash flow management is critical for SMEs , and banking services can help businesses better manage this . This could be by providing actionable insights , e . g . detecting liquidity shortages . One of the primary benefits of banking capabilities tailored to SME needs is access to the right funding options . SMEs can access a range of lending products and services , like lines of credit , term loans or invoice financing . These capabilities can help businesses better manage their operations , invest in growth and manage cash flow proactively .
A hyper-personalised customer experience : Data is essential for Digital Transformation in the sector and digital banking platforms are becoming increasingly popular within SME banking . These platforms allow banks to have access to data and can create a hyperpersonalised customer experience that allows them to support the needs of SMEs through offering features such as online account opening , digital loan applications and automated underwriting . They can also provide SMEs with access to a wider
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