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SME Bank incorporates SEPA instant transfers and SWIFT

Tuesday 14 February 2023 15:40 CET | News

Lithuania-based neobank startup SME Bank has announced its addition of SEPA Instant Credit Transfers as well as becoming a member of the SWIFT network.

Following this decision, the SME Bank will have better access to the needs, preferences, and demands of the customers, while focusing on SMEs and their developing process. 

By integrating the Single Euro Payment Area (SEPA) and the Society for Worldwide Interbank Telecommunication (SWIFT) into their services, SME Bank aims to improve their instant and seamless customer experience. Included in the new products provided by the expansion is a developed fraud management solution, focused on making the transactions and payments done by its users more secure and efficient, as well as all the advantages for the entire EUR payment area. Furthermore, the bank is able to provide secure, transparent, and accessible financial solutions through a vast and safe suite of messaging networks utilised by financial institutions, as well as moving money between two cross-border bank accounts in the eurozone. 

Lithuania-based neobank startup SME Bank has announced its addition of SEPA Instant Credit Transfers as well as becoming a member of the SWIFT network.

SME Bank’s products and strategies

Leveraging a single digital platform for all small-and-medium-sized enterprises’ finance and daily banking needs, SME Bank operates in multiple European countries, being a digital bank designed for business. 

The financial institution is a neobank that offers companies the possibility to leverage a single, digital platform for all small and medium-sized businesses’ finance and daily banking needs and requirements. SME Bank also offers a full range of bank services and numerous lending products. Together with SME Finance, SME Bank also provides growth and development financing for startups and SMEs, while offering them solutions to overcome business challenges and threads. Its fraud management solutions focus on keeping SME customers free from the risk of fraudulent activities, keeping all the information and data secured and protected. 

Daily Banking products include accounts services (in which customers can manage their daily finances in the online bank, benefiting from the open client funds storage and authorised capital accounts), payments services (in which clients can make payments and transfers within the SME Bank or choose a SEPA transfer in EUR to any country in the EU or EAA, hassle-free and effective), deposit solutions (where companies can recruit the money they don’t use or plan to save while concluding fixed-term or savings deposits agreements fast and simple in the digital bank). Furthermore, the company offers its clients a customer care service, which will guide them through every step of the process, as well as the possibility of users to make business loans directly on the financial institution’s website, reducing the time and effort of the process for them. 


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Keywords: online banking, digital banking, cross-border payments, SEPA, SWIFT
Categories: Banking & Fintech
Companies: SME Bank
Countries: Lithuania
This article is part of category

Banking & Fintech

SME Bank

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