SMEs in digital banking: A segment with special requirements

SMEs are an integral part of the customer base of most Swiss universal banks, and this segment is particularly important for regional and cantonal banks. SMEs usually have both a private and a business relationship with their bank, making them attractive customers with a high degree of coverage for various services. As my experience as an SME consultant has taught me, the line between private and business matters is particularly blurred for small SMEs. This also needs to be taken into account in the digital functions.

There are currently few banks that cover specific SME topics in e-banking or offer separate solutions in this area. At ti&m, we don't think it should be a separate system, as the needs of SMEs are very closely interwoven with those of private individuals. Ideally, an SME should be able to switch between its private and business profiles in its existing digital banking system, allowing it to carry out all its digital banking transactions in one place with the same UX. It is important to bear in mind that SMEs have completely different requirements: They need fast and efficient processes, clear authorization concepts, straightforward displays, and user-friendly self-service functions.

With our ti&m Banking product, we now offer a complete digital banking solution for mobile and web that works on a centralized basis. The expansion of digital banking with SME functions can thus be implemented for existing channels on the same technological basis without the need for an additional system or operating setup. This leads to a consistent customer experience, rapid development cycles and savings in operating costs for the bank.

It is important to take a holistic approach and strategically define which services should be offered digitally to SMEs and what the interaction with the customer advisor should look like. SMEs, especially those with loans and for which the bank is their main bank, have a much closer relationship with their customer advisor than normal retail customers. It is therefore crucial that the comcustomer advisor is involved in the digital functions. A good technological basis allowing the bank to flexibly develop new functions and also integrate partner companies and third-party offerings is also important.