Banks can improve SME financial inclusion
New Banking Circle insight paper explores opportunities for banks to work with SMEs to deliver better banking solutions
London, September 2019 – Today at Sibos 2019, ground-breaking financial utility, Banking Circle, launched its latest research findings. The insight paper, ‘Circle of Trust or out of the loop?’ supplements the June 2019 Banking Circle white paper and digs deeper into how banks are making changes to help SMEs, and what other opportunities exist.
The paper includes exclusive interviews from those working within the industry, to provide unique insights into the challenges and the solutions hitting the market today, and where barriers are beginning to come down to improve SME financial inclusion.
Anders la Cour, Co-founder and Chief Executive Officer of Banking Circle commented: “As a business passionate about increasing financial inclusion for SMEs, Banking Circle is committed to ongoing research into the issues facing real businesses around the world today, so that we can work together to find innovative and affordable solutions. We have commissioned MagnaCarta Communications to carry out in-depth research and produce a series of papers to help the support the industry as it seeks to understand the issues and opportunities that exist today.”
The first paper launched in June 2019, titled ‘Financial Inclusion for Europe’s SMEs: Building a Circle of Trust’, and is now supported by the launch of a banking-focused insight paper, ‘Circle of Trust or out of the loop?’ A third paper in the series will launch at Money20/20 USA in October, focusing on payments innovation, and an additional two papers are due to be launched in the coming months.
Anders continued, “The insights we have gained throughout this ongoing research project have been invaluable, giving us an accurate picture of how we can bring the industry together in an ecosystem model of collaboration, not competition, to deliver the solutions which meet the needs of real businesses. Reducing the cost and time involved in business banking and cross border payments is increasing global financial inclusion. In turn, this allows more SMEs to compete in the international marketplace alongside the bigger players, improving their valuable contribution to global economies.”