Why Business Banking Has Become Broken for Established SMEs
As high street banks cut the number of local branches and relationship managers available, business owners are struggling to access the banking services they need. Conrad Ford, Chief Product & Strategy Officer at Allica Bank, will explain why banks struggle to service established SMEs and how accountants can help their clients access better business banking.
Format
Event
Location
Virtual
Product Number
UKEVENT-070524
Established SMEs account for almost a third of UK economic activity and jobs, however they often find themselves neglected by high street and fintech banks. Many banks struggle to cater to the unique requirements and complexity of these businesses, preferring to focus on supporting consumer, micro businesses, and large corporate markets instead. However, this leaves avital segment of the UK economy lacking support. Established business owners now face issues such as accessing banking services, opening current accounts to waiting for months for decisions on lending applications.
During this webinar, Conrad will cover the root causes of why big banks struggle to support SMEs, the role that Covid and other recent economic events played in shaping business banking, and how accountants and their clients can respond to these challenges.
Sponsor
Speaker
Conrad Ford Chief Product & Strategy Officer, Allica Bank
Conrad is Chief Product & Strategy Officer at Allica Bank - recently named by Deloitte as the UK’s fastest-growing financial technology (fintech) firm ever - which is bringing expert relationship banking back to established SMEs, supported by modern technology. Previously Conrad was the sole founder of Funding Options, a business lending marketplace named in the 2022 Financial Times FT1000 list of Europe’s fastest-growing firms, and which recently sold to neobank Tide. Conrad is a Chartered Management Accountant, and prior to his career in fintech worked at leading banks.
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