Small and medium-sized businesses (SMBs) have always been a less profitable customer segment for banks than either retail customers or large corporates. This is down to the degree of specialization required to service such a disparate group. Many of these enterprises suffer from cash-flow inefficiencies and long conversion cycles, both of which have negative implications for liquidity.
Nearly 80% of bank executives surveyed for Capgemini’s ‘Winning with SMBs’ report acknowledged that small businesses have problems with inefficient invoice reconciliation.
Alternative payment providers have partnered with these SaaS providers to deliver a single window option – and this is where dissatisfaction may become more pronounced
David Rego, Standard Chartered
Financial institutions have devoted a lot of – at least public relations – resources to becoming more inclusive in recent years, but that doesn’t necessarily mean that small-business banking services have improved.
The report notes that 44% of the SMBs surveyed were dissatisfied with their banking relationships...
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