Internet banking for SME

Small and medium enterprises (SME) have the major share of the world economy and half of the employment worldwide. The contribution of this the market to global GDP is huge and growing every year. SME segment is helping the government to create stable income for the population which is critical for national security. Small businesses are better at adapting to changes in the market and can easily survive economic crises. SMEs also serve as a source of innovation, entrepreneurial skills and new ideas for income generation.

Business members of this market segment are actively introducing IT solutions to their everyday business processes. To increase productivity and generate more profit, managers are heavily investing

in digitalization of the company. Many tasks which were done manually and time consuming now can be automated by different kinds of applications. Even small changes can have a huge impact in the future

when all the process is settled.

Today, banks intend to develop a new niche for themselves. The creation of fully digital banks for SMEs will be a new stage for the development of the banking sector and will allow businesses to diversify business. Absolutely all processes in digital banks will be built online. This means that an entrepreneur will not need to come to a branch to make any transactions. It's expected that loans for business operations will be available online for SMEs, without a need to collect paper based credit profile. The developers are studying global experience and the needs of entrepreneurs. These two components will be combined in a new app for SMEs and eliminate the needs of entrepreneurs to dedicate time for banking operations. This development of the banking industry is corresponding with the willingness of entrepreneurs to automate the business processes they have and increase productivity. At the same time entrepreneurs can concentrate on growth of the business instead of hassling with everyday operations.