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SAP Fioneer launches tailored banking solution for SMEs
June 23, 2023
SAP Fioneer, a joint venture between technology company SAP and private equity firm Dediq, which offers financial services software to banks and insurers, on Thursday announced the launch of its tailored banking offering for SMEs. The solution will allow banks and neobanks to cater to SMEs which have traditionally struggled to access financial services that meet their needs, as the perceived risks and costs associated are deemed too high, the company said.
The SME Banking Edition solution by Fioneer connects banks to external data sources such as open banking, central company registry, e-commerce and enterprise resource planning (ERP) data, to get actionable insights to support SMEs.
“This will give SMEs clear transparency about cash flow and provide insight to the banks and enable such as smart funding options, offering more variety and increasing the number of businesses banks can serve.”
Charlie Platt, Managing Director of Banking at SAP Fioneer said, “SMEs represent the lifeblood of the economy, and it is critical that they are able to access the financial services they deserve. Through our SME Banking Edition, banks will be able to create commercially viable, unique and better banking experiences for SMEs that will help them to stay ahead in a challenging economic environment.”
Important Links:
- 4-IN-1 Professional Diploma in Banking, Financial Services & Insurance (PDBFSI): https://tscfm.org/courses/4-in-1-professional-diploma-in-banking-financial-services-insurance-pdbfsi/