Leveraging Fintech to Help Your Small Business Customers Succeed
The Future of Finance - Leveraging Fintech to Help Your Small Business Clients Succeed
In today's fast-paced business environment, small businesses are under more pressure than ever to stay competitive. And with the rise of fintech, financial institutions have the opportunity to help these businesses succeed. By leveraging fintech, financial institutions can provide small businesses with the tools and services they need to stay ahead of the curve.
One important development in the FinTech world is the rise of online banking. According to a report by the Federal Reserve, the number of digital banking users in the US has increased by 37% since 2015. As more and more small business owners turn to digital banking as a convenient and time-saving option, financial institutions can stay ahead of the curve by offering comprehensive online banking services that help their clients stay on top of their financial health.
From the use of artificial intelligence and big data to the rise of online banking, the world of FinTech is constantly evolving. With so much uncertainty and change, it's more important than ever to stay ahead of the curve and be prepared for the future. It can be overwhelming to keep up with all the changes, but with the right tools and knowledge, you can stay ahead of the competition and help your clients thrive in any economic environment. That's why we're excited to announce our upcoming webinar on the Future of Finance.
Another area where AI is playing a significant role is in the lending and credit process. According to a study by Accenture, the use of AI in underwriting can increase the number of approved loans by up to 60% and reduce the time to approve a loan by up to 90%. This is a huge benefit for both SMEs, who can get approved for a loan faster, and for financial institutions, who can increase their loan volume without increasing their costs.
In addition to more efficient lending and the evolution of online banking, the use of artificial intelligence and big data is also playing a significant role in the FinTech industry. According to a report by PwC, the global market for AI in banking and financial services was expected to reach $7.3 billion by 2022 and that trajectory is evolving coming into 2023. Financial institutions can leverage these technologies to gain valuable insights into their small business clients, improve efficiency, and even predict future trends. By using these tools, financial institutions can help their small business clients make better decisions, improve efficiency and even predict future trends.
Overall, fintech has the potential to revolutionize the way small businesses access and use financial services. With the right knowledge and strategies, financial institutions can leverage finance and technology to help their SME clients stay competitive and succeed. So don't miss out on this opportunity to learn from industry experts and gain valuable insights.
Sign up for our webinar and join us as we explore the latest trends and developments in the Fintech industry. We look forward to seeing you there!
Nina Barango is an experienced demand generation manager with a proven track record in the fintech industry. Having worked with startups and SMEs, she brings a unique perspective and understanding of how to drive results and growth effectively. A valuable asset to any team, she is dedicated to helping her company succeed.