"Take a hard look at your current ecosystem. If you were to double the assets under your management today, would your current ecosystem sustain that growth?" Finastra's Kristen Lista, on what FIs need to do to compete in SME lending - Tearsheet

Non-bank financial institutions (NBFIs) are increasingly dominating the SME lending market by leveraging technology for rapid lending solutions. This trend pressures traditional financial institutions (FIs) to rethink their strategies to remain competitive, particularly focusing on enhancing efficiency and client experiences. Kristen Lista from Finastra discusses key areas of improvement for FIs, such as technology consolidation and back-office enhancements, while identifying barriers SMEs face in accessing funding. By embracing digital transformation, FIs can offer quicker and more flexible lending, crucial for meeting SMEs' urgent financial needs.

Non-bank financial institutions (NBFIs) are capturing market share in SME lending by leveraging technology for quicker lending solutions, pushing financial institutions to innovate.

To overcome barriers for SMEs seeking funding, financial institutions must innovate and embrace digital transformation for faster, more effective lending decisions.

Read at Tearsheet