Disruption of SMB banking.
According to Gartner "Bank CIOs who want to compete with challenger banks and fintechs by creating disruptive digital services must focus on SMBs to maintain momentum and address a customer market that is ready to adopt them."
Bank CIOs must consider the disruption coming from several familiar directions: digital giants, fintechs and challenger SMB banks.
SMBs form the backbone of many economies and represent about one fifth of the global banking revenues. As a customer segment, SMBs offer considerable potential. Traditionally, many banks have not prioritised this market due to its relatively low return on equity. But now, enabled by technology, fintechs and big tech firms are winning the market with innovative service models that reduce costs and increase revenue.
Download the report to learn about:
- SMB-oriented banking transformation strategies and challenges.
- Innovative digital banking services dedicated to the SMB segment.
- SMBs' internal and external challenges.
- Market analysis.
Source: Gartner, Bank CIOs: Break Through to SMBs by Creating Innovative Digital Banking Services, Stessa Cohen, Monica Zlotogorski, 29 March 2019
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