Why Speed Answers to SME Needs
Small to medium size enterprises (SMEs) make up 99% of all businesses worldwide and represent a $56.9 billion annual revenue opportunity for financial institutions, Barlow Research estimates. ACI’s new real-time survey shows that 50% of SMEs globally would like their banking provider to offer more services that meet their unique needs.
Key findings of this survey are presented in the survey infographic.Download the Survey Infographic
Survey Insights Reveal What SMEs Want
Instant, Smooth Experience
Both incoming and outgoing payment delays were consistently ranked as very frustrating
SMEs ranked 24x7x365 payments as a top service they want that their bank does not currently offer
Start Preparing for the New EU and US Real-time Schemes
Immediate payments will soon be a new reality across the globe. To maintain competitive, financial institutions must match demand with new, real-time payment offerings. Based on survey results, it will also be critical to educate SME customers about instant payments use cases and the benefits to their business. ACI recognizes the effort to transition to a modern, real-time environment. No matter what region you operate in, our real-time experts, in partnership with banks who have done it before, offer best practices and tips to guide you towards successful implementation of immediate payments.
ACI Discusses the Opportunities of Real-Time Payments
ACI’s immediate payments expert, Barry Kislingbury, visited the London Stock Exchange studios to put additional survey findings into strategic context, illustrating how institutions of all sizes can address the unmet needs of SMEs with value-added, real-time payments offerings.
With the new US and EU real-time schemes just around the corner, Barry also lends advice for readying your systems.