SME Banking is maturing, and this is no longer about providing value-added services or non-financial services as an ad-on to traditional banking; it’s about redefining what standard SME banking is.
Offering business services to SMEs is becoming a key market differentiator. In the CEE market, where 80% of daily (traditional) banking services are digitalized, differentiation is achieved through implementing Business Support Services. In Poland, 80% of banks are already offering business services for SMEs, while the rest of the region is just beginning this journey (see examples below).
A crucial service is the invoicing tool, as SME operations revolve around getting paid, managing cash flow, projecting finances, and paying tax obligations. Banks are developing their services and ecosystems around these needs.
SMEs require business platforms and enterprise productivity platforms (EPPs) for their daily operations, with banking services seamlessly integrated. Banking is not the primary system for SMEs, but it supports their broader business needs.
