SME Banking Summit
Overview
In a world of cross-border business, SMEs have more complex financial needs than ever before. Banks are harnessing data to better understand their SME customers and creating innovative products and services to meet their unique requirements.
According to the Freelancing in America 2017 report by Freelancers Union & Upwork, the majority of the U.S. workforce will be freelancers by 2027. Moreover, the trend seems to be similar in other developed countries around the world led by Asia Pacific, Nordics, UK and is expanding across regions. Banks should therefore focus more on this segment and create an attractive value proposition for the whole micro segment. This trend will bring a huge number of unbanked entrepreneurs looking for financial business partners and they will definitely be looking far beyond traditional banking services. There will be millions of them with unique needs and priorities. Subsegmentation, targeting and a complex view of customers will make the difference.
Emerging neobank players
After a number of successful examples of market penetration by neobanks in retail financial services (Revolut, N26, Ant Financial and Monzo), the focus will shift to other segments, with SMEs and Micros at the top of the list. The augmented value propositions for SMEs of such players, with their specific capabilities and features, have already been launched in various markets in Europe, the U.S. and China (We Bank, GetPenta, Holvi, Ideabank and Kabbage) and will rapidly have a significant impact on traditional SME banking service providers.
It is becoming easier than ever before to find business financing as supply is gradually overtaking demand in a growing economy. Simplicity, speed and agility will become key for banking players in all areas - products, processes and customer relations. One of the fastest responses involves partnerships between banks and fintechs to pool their strengths and provide customers with additional services, beyond banking. Creating a network of such partnerships will enable banks to reach the ultimate business ecosystem status with beyond banking offerings, but this requires a new, augmented SME Banking strategy.
With the subtitle of SME Banking Revolution: Business Ecosystems, Beyond Banking Offerings, Augmented Strategy, the 2019 Efma SME Banking Summit will cover the following topics:
• Use of AI and machine learning in SME banking
• Non-financial, value-added services and freemium offers to boost loyalty and create new revenue streams
• Bank + Fintech partnership success stories
• Microfinancing, micro segment customers value proposition
• Supply finance chain programmes
• Reaching out to new customers from early stage start-ups: acquisition, retention and channels beyond banking
• Designing new products and new ways of credit scoring
• Subsegmentation and targeting - mobility, cashflow & payments, product bundling
• Cross-functional approach:
• SME business owners as premium banking individual customers
• cross-selling opportunities for insurance products: pension plans, insurance product offerings
• Global launch of Efma SME Banking Community Programme 2019/2020
Have a look on: www.efma.com/insurance19
Speakers
Agenda
Get a complete overview of all sessions, speakers, and timings across the event. Visit the full program page to plan your schedule in advance and make sure you don't miss the moments that matter most to you.
Sponsors & partners
Q2
Q2 is a secure, cloud-based digital banking solutions company headquartered in Austin, Texas.Since 2004, it has been our mission to build stronger communities by strengthening their financial institutions.Our digital banking solutions for deposits, money movement, lending, leasing, security and fraud enable financial institutions to deliver a better financial experience to their account holders.Our bank and credit union customers, along with emerging financial services providers, also benefit from actionable data analytics and access to open technology tools.
VeriPark
VeriPark is a global solutions provider enabling financial institutions to become digital leaders by placing Customer Experience at the core of digital transformation. With offices located in the United Kingdom, Europe, Canada, Asia, Africa and the Middle East, VeriPark is helping financial institutions to enhance their customer acquisition, retention and cross-sell capabilities by providing proven, secure and scalable Customer Engagement, Omni-Channel Delivery, Branch Automation and Loan Origination solutions.
PartnerHub Zrt - Charlie India
Charlie-India Invoice HUB developed by Partner HUB Ltd. is an end-to-end white label product to provide invoice related services integrated with the internet bank and allowing seamless e-invoice data exchange among invoicing ecosystem players including very effective accounting software integration. We aim to be technology providers to accelerate globally interoperable e-invoicing solutions focusing on SMEs. We think that banks have a profound role in SME inclusion for interoperable e-invoicing, as banks can manage the mass onboarding of SMEs into e-invoicing. Banks can become attractive integration and data hubs on local markets for ERP/accounting system integration, that helps SMEs to realize benefits of digitalization, while realizing significant gains for the bank. Why should you as a bank launch invoice related services for your SME clients with Charlie-India? - You can leverage on regulatory obligations such as instant payments and PSD2 and turn these into innovation opportunities to launch invoice related services. - You can keep the payment transactions at the bank: Invoice is a request-to-pay, you can generate payment transfer instructions right from the invoice. If you have invoice data no other payment provider takes the payment transaction away. You as a bank will keep your own brand and primary customer contact and full margin on the payment transaction, which makes up a significant part of all banking revenues. - By having access to data invoice assets new revenue streams unfold: you can provide additional financing, connect digital invoicing with factoring and supply chain financing solutions. - Charlie-India Invoice HUB as a product minimizes required IT and human resources from the bank’s side; we have an online prototyping tool for POC projects.
vCita
vCita is the #1 business management and client engagement app,designed to help small businesses grow. Tailored specifically for service providers, vCitaredefines the way businesses interact with their clients, driving more opportunities from the web, mobile, email and social while empowering clients to self-serve. Founded in 2010 by Itzik Levy and Eran Utmazgin, vCita started out as an online scheduling platform. Over the years, vCita evolved to become anall-in-one app that includes all the tools a small business needs to manage and grow their business. vCita includesan onlineCRM to manage all client communications together with online scheduling, onlinepayments, email & SMS campaigns, lead generating website widgets, and everything a small business needs to drive more business and provide great client service.
Loxon Solutions
Loxon is a business solutions provider, offering flexible, innovative solutions for the financial services industry and is dedicated to serving banks and lenders with software solutions in sales, lending and risk management lifecycle. Loxon was founded in 2000 by young banking experts. The core value of the company is its strong business and technology innovation capability, keeping the company continuously a step ahead of competitors. Loxon’s head office is in Budapest, Hungary, and it has offices in Romania (Bucharest), Russia (Moscow), Saudi Arabia (Riyadh), Turkey (Istanbul) and in the United Arab Emirates (Dubai). Loxon has achieved considerable growth in client base and has become one of the leading providers of the risk management and lending software market in the CEE (Central and Eastern Europe), CIS (Commonwealth of Independent States) and MEA (Middle East and Africa) regions.
Backbase
Backbase is a software company. We design products that improve the lives of real people. We have created the world’s leading lean customer experience platform. It has been designed to help you organize, create, and manage deeply relevant customer experiences across all channels, on any device to delight your customers, and deliver measurable business results. We believe that customer experience management is essential for today’s organizations to stand out from the crowd, stay relevant to their customers, and grow their business. Our mission is to help organizations transition smoothly into truly customer-centric businesses by adopting the outside-in approach that has worked so well for us and our customers. We believe that every enterprise will find success through customer-centric innovation.
Strands
Experts in Big Data, AI and Machine Learning since 2004, Strands creates highly-customizable digital money management software for top-tier financial institutions worldwide, and empowers people to be smarter with their money. Strands has carried out more than 600 implementations to date.
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