In this paper, we share some headline perspectives from our extensive research and client work in SME Banking in Asia. Oliver Wyman conducted an SME survey across eight APR markets (Australia, India, Indonesia, Hong Kong, Malaysia, Singapore, Thailand and Vietnam) in 2017. A total of 2,200 responses were collected with a combination of online, phone and field based primary research. All of the analysis and insights in this short paper are primarily derived directly from the survey results.
5 Things You Need To Know About SME Banking In Asia-Pacific
SMEs in Asia-Pacific have long been under-served by banks, often regarded as too costly or risky to serve and frequently caught between organisational silos that exist in many of the banks in the region. They also represent a huge part of our economies in Asia, contributing upwards of 50% of GDP and employment across the markets. So there is a significant, compelling opportunity for those financial service providers who can crack this space, but doing so requires detailed understanding of the evolving needs of SMEs so that solutions and service models can be designed accordingly.