The Global Voice of the SME
The Voice of the SME was established to bring the perspective of small and medium-sized enterprises directly into the strategic conversation within banking and financial services. SMEs represent the engine room of global economies, yet they are often treated as a homogenous segment despite their diversity in scale, maturity, sector and ambition. The purpose of the report was to deepen understanding of how SMEs were navigating an environment of heightened uncertainty and transformation, and how their expectations of financial institutions were evolving as a result.
The research was global in scale, incorporating over 5,500 surveys across 16 markets, alongside in-depth interviews with SME leaders and banking representatives. It was designed not simply to measure satisfaction, but to examine the broader SME journey: including business life cycle transitions, funding pressures, digital transformation, and changing attitudes toward banking relationships.
At its core, the report explores how SMEs are reassessing priorities, reshaping business models and redefining what they require from their financial providers. It highlights that while many SMEs maintain traditional banking relationships, expectations are shifting rapidly. Digital capability, speed of decision-making, flexibility, and a deeper understanding of individual business context are becoming central to competitive differentiation.
The research also places emphasis on structural shifts within the SME market itself. Businesses are moving between life cycle stages at pace, creating a more fluid and complex customer base for banks. At the same time, competition is intensifying, with FinTech and Big Tech providers gaining visibility and consideration among SMEs.
Ultimately, the report positions the SME–bank relationship at a strategic inflection point. It argues that success will depend on moving beyond transactional service delivery toward a more integrated model — one that combines strong digital execution with human insight, delivers faster access to capital, and provides broader ecosystem support. In focussing on the “voice of the SME,” the report provides a foundation for banks to recalibrate strategy, segmentation and service design in a rapidly evolving market.
Coverage:
The Impact of the Pandemic on SMEs
Financial impact (revenue, profit, sales volume)
Business model adaptation and introspection
SME life cycle transitions (growth to decline shifts)
Funding support and borrowing patterns
Recovery outlook and future concerns
Bank / Financial Provider Usage & Experience
Main financial institution (MFI) relationships
Product holdings and onboarding experience
Satisfaction drivers (responsiveness, understanding, trust)
Regional variation in expectations
Propensity to switch providers
Digital Hyperconnection
Acceleration of digital adoption
Online and mobile banking usage growth
Shift away from cash
Digital vs. financial maturity segmentation
Digital Banking Expectations
Demand for intuitive, seamless digital experience
Faster credit decisioning
Data-driven personalization
Balance between digital efficiency and human engagement
The Underfunding Challenge
Access to capital pressures
Speed and transparency of credit
Role of banks vs. alternative lenders
Building Deeper Relationships
Redefining the role of relationship managers
Delivering the “Brilliant Basics”
Ancillary services beyond core banking
Ecosystem and advisory opportunities