- whitepaper
How to Build a Game-changing SME Neobank
SMEs constituted 90% of all businesses and over 50% of global employment, yet remain underserved by both traditional and digital financial institutions.
The global neobanking sector has experienced explosive growth over the past few years and is significantly transforming the financial landscape with its digital-first approach. Market projections indicate a staggering rise from USD 18.6 billion in 2020 to USD 333.4 billion by 2026, with further expansion expected to reach USD 5,382.6 billion by 2033. This acceleration, driven by smartphone adoption, evolving consumer expectations, and fintech advancements, has been largely dominated by consumer-focused neobanks like Revolut, Chime, N26, and Monzo.
Small and Medium-Sized Enterprises (SMEs), however, remain largely underserved. For years, traditional financial institutions have focused their offerings on large corporations and retail consumers, often overlooking the distinct needs of SMEs – despite the fact that they constitute about 90% of all businesses and account for over half of global employment. This growing demand has sparked significant interest for investment in SME-focused neobanks, with success stories like Open and Novo securing substantial funding to scale their solutions and bridge the gap in business banking.
In this whitepaper, we explore the vast opportunities in SME neobanking and provide a comprehensive guide on building a groundbreaking digital bank. We cover key aspects, including developing a strong market proposition, navigating regulatory requirements, designing innovative products, and selecting a flexible technology infrastructure to ensure agility. Download now for full insights.
