MagnaCarta Communications carried out the independent research to deliver the an insight into what is causing financial exclusion for SMEs – and the opportunities that exist for the financial services sector to improve financial inclusion. Featuring insight from lenders, banks, payment service providers and SMEs throughout Europe, the aim is for the report to inspire the industry to come together and help close the loop.
The report, Financial Inclusion for Europe’s SMEs: Building a Circle of Trust, reveals findings including: One size can’t fit all; inaccessible services create self-reinforcing vicious circles; and digital innovation and regional regulation are encouraging greater collaboration between providers. The report also throws a spotlight on the unique position SMEs find themselves in, where they are not well served by corporate or retail banking offerings, perpetuating the sense that they are not valued nor valuable customers
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