The Fintech Imperative for SMEs

About this event

Wednesday 26 June, 87 Barts Close, London

The current UK government declared 2024 the Year of the SME, with the goal of making the UK the best place to do business. The refreshed ‘Help to Grow’ campaign acknowledges the vital role these businesses play in creating jobs and fostering economic growth. Collectively, SMEs support 27 million jobs across the UK, accounting for £4.5 trillion of annual turnover. 

However, SMEs often struggle to access the financial services they need to grow. Data from a recent Treasury Committee inquiry found that small businesses are facing “needlessly tougher” circumstances “due to the actions of banks and regulators”, with many falling foul of their bank’s risk appetite as they grow. And for SMEs who could benefit from the transformative power of fintech the most, the adoption of new payment solutions can feel challenging and costly to implement or may be low down on their list of priorities.

This event brings together organisations from across the payments ecosystem to consider the fintech imperative for SMEs from different perspectives, explore the potential for AI and open banking innovation to empower SMEs in an ever more digital world, and consider what we can do to drive the adoption of innovative payment solutions for the nation’s burgeoning enterprises.

Wednesday 26 June, 87 Barts Close, London