The Shifting Competitive Landscape in SME Banking
SME banking is a particular interest of mine, as long-time listeners know. We’ve covered it from a number of angles on Rebank, including challenger banking with OakNorth, digital lending with iwoca and Spotcap, payments with GoCardless and support services with Xero, to name a few.
If one area has been getting increasing interest, it’s SME banking, and it’s about time.
Last week, Pool A of the RBS Capability & Innovation Fund was allocated, with massive cash grants going to winners Metro Bank, Starling and ClearBank to enhance existing business current account offerings. The cash injections are sure to shake up competition in the space.
Today, we’re joined by Richard Davies to talk through recent developments and the broader trajectory of the space. Richard runs business banking and sits on the Executive Committee at TSB, the UK’s 7th (ish) largest bank.
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Thank you very much for joining us today. Please welcome, Richard Davies.