For example, one of our research findings substantiates the notion that 61% of senior executives in the banks that we sampled view SMEs as their current biggest growth opportunity, with a strong bias towards the medium enterprises (50-249 employees). That’s not to say that large enterprises are viewed as a non-opportunity – 26% of UK bankers and 42% of US bankers see their focus for growth here – but there is a clear shift of attention towards SMEs.
It is interesting to note that terms like ‘personal‘ and ‘customer-focused’ are mentioned when discussing customer engagement in the SME sector by 60% of those surveyed, with 58% pre-occupied with offering fairer pricing. All of this points to a costlier model for a lower price, which is invariably the clarion call for ground-breaking innovative use of technology. Yet 47% of our sample cited the lack of relevant technology as a major concern in addressing the needs of their SME customers, second only to concern that large enterprises invariably take priority over resources (55%).