SME banking is ripe for change and disruption. Over 40% of SMEs indicate they are interested in receiving banking services via the digital platforms they use every day. This Accenture report looks at why digital platforms are well positioned to deliver seamless, frictionless banking services to SMEs and explores how banks and platforms can win their share of the emerging embedded finance market—which could amount to as much as 26% of the total SME banking market by 2025.
Embedded finance sees some of the world’s most powerful digital platforms taking aim at the small and medium enterprise (SME) banking market. A global Accenture survey of 2,500 SMEs in 10 markets confirms that SMEs are interested in embedded finance solutions from digital platforms. An associated Accenture model forecasts a revenue uplift of up to $92 billion from embedded finance by 2025. Digital platforms and banks that move first will be able to secure partnerships with the prime players and unlock significant growth opportunities. Over the next five years, embedded finance for SMEs could create a software-as-a-service (SaaS) moment for commercial banking, where old business models will give way to a new order. Now is the time for each bank, fintech, and platform to decide where and how it will participate in a fast-changing landscape. This Accenture report explores the strategic options for banks and platforms in this emerging market.
Ahead of the 2021 edition, let’s examine what it too...
The buzzword is used a lot when it comes to banking...
All you need to know for a successful submission to...
