Скачать или смотреть Collaboration in the financial ecosystem to support SMEs | Roger Vincent, Trade Ledger

Roger Vincent, CIO and General Manager UK, Trade Ledger, highlights the difficulties SMEs are facing when accessing financial services.

As an SME itself, Trade Ledger is all too aware of the challenges the sector faces. Mid-sized SMEs companies passing £1m turnover fall between the stools of retail and corporate banking, and as a result, are a hugely underserved market.

Financial inclusion should not only be a financial services problem, it should be a regulatory problem, with a Government level drive towards building a better ecosystem for small and medium sized businesses. Regulatory changes, such as Open Banking and PSD2 have allowed for better access to data which can now be leveraged thanks to the ecosystem opening up. In doing so, tech providers are now able to forge partnerships with banks to better serve SMEs.

All actors need to come together to ensure banking and financial services become more readily available to SMEs - the driving force behind the UK economy.

Find out more in our banking insight paper 'Circle of trust or out of the loop?'

https://www.bankingcircle.com/whitepa...