IBM Study: Divergent Views Among Small To Medium Sized Business Leaders And The Banks That Serve Them Uncover A White Space For Nimble Financial Institutions To Compete In This Varied Market Segment
IBM News, Wednesday, September 18th, 2024
The Banking for Small and Medium Enterprises: Serving the World Economy with Data and AI report shares insights and analysis resulting from a global survey of SME business owners and managers with 50 or more employees, senior banking executives and fintech leaders.
New findings from IBM's (NYSE: IBM) Institute for Business Value and the Banking Industry Architecture Network (BIAN), with contributions from the SME Finance Forum managed by the International Finance Corporation (IFC), revealed that despite the significant role small to medium-sized enterprise (SME) plays in the global economy, banks may be missing an opportunity to foster growth in this market due to their focus on reducing risks, meeting regulatory requirements, and the substantial costs of serving this highly diverse client segment.