Banking for SMEs: The voice of the makers

Despite their significance, SMEs face many challenges that demand innovative banking solutions. Banks and neobanks are responding with new business strategies and tech-led innovation. 

The IBM Institute for Business Value (IBM IBV) invited 10 financial institution executives to discuss their strategic perspectives on how banks compete in diverse, dynamic SME markets.

Banca Intesa Sanpaolo: Davide Alfonsi, Group Chief Risk Officer

BBVA: Gokhan Koca, Global Head of SME Banking 

CreditEnable: Nadia Sood, CEO and Founder 

Mashreq Bank: Rajeev Chalisgaonkar, Head of Business Banking and NEOBiz 

Mastercard: Jane Prokop, Global Head of SME 

Nacha: Jane Larimer, President and CEO 

Nubank: Maximiliano Damian Rodrigues, General Manager, SME Business 

Santander: Franco Fasoli, Head of SME Banking 

State Bank of India: Challa Sreenivasulu Setty, Managing Director (International Banking, Global Markets & Technology) 

Wema Bank: Ayodele Olojede, Divisional Head of Retail and SMEs

Their expert opinions enriched Banking for small and medium enterprises: Serving the world economy with data and AI, a point of view that the IBM IBV published in collaboration with the Banking Industry Architecture Network (BIAN). Our extensive research project is based on a global survey of almost 700 banking executives and more than 1,000 SME owners and managers. It also benefits from the expertise of the SME Finance Forum, managed by the International Finance Corporation (IFC).

What is emerging is a blend of branch services, human relationships, and enhanced digital access to mold SME banking along the varied needs of their diverse clientele.

By reading The voice of the makers compendium to our research study, you will access reflections about the current state of SME banking and its fintech future across different geographies. Four strategic actions were recurring themes in our conversations:
 

• Go beyond branches, blending human and digital engagement.
• Become an ecosystem catalyst, expanding services beyond banking.
• Refine credit risk management with new data and AI.
• Help SMEs to save time and add critical business value. 

* “Financial Institutions Group (FIG) MSMEs.” International Finance Corporation (IFC). https://www.ifc.org/content/dam/ifc/doc/2024/msme-s-factsheet-ifc-financial-institutions-group.pdf