Banking Circle CEO, Anders la Cour, took part in a Business Reporter studio debate to discuss the challenges facing SMEs across Europe, and how some are struggling to keep up in today’s digital economy.

For many SMEs and startups in Europe, growth is being stifled due to a lack of access to global payment and working capital solutions, which leaves them financially excluded. This is despite businesses of all sizes, from Fortune 500 companies to one-man bands, having to act as global players while their customers become increasingly comfortable with making purchases across borders.

Settlement cycles present a huge issue, too, with marketplace sellers sometimes having to wait for up to 90 days for payments to be received, as a result of counterparty credit risk exposure. Additionally, the entire settlement landscape is fragmented, with different payment methods having different cycles, making it difficult for smaller merchants to manage cash flow. Receivables financing solutions, like Banking Circle’s Instant Settlement, have been developed specifically to address these issues.

Global real-time payments should no longer be considered a luxury for businesses of any size or jurisdiction. Companies should not still be battling for fast access to working capital. Digitisation across international borders demands that SMEs are no longer excluded from core financial services, allowing them to serve their economies on a global scale.

To find out more, watch the full interview below.