Many Small and medium-sized enterprises (SMEs) struggle to obtain financing. According to the International Finance Corporation’s most recent analysis, 40% of micro, small, and medium-sized enterprises are credit-constrained. In fact, the global access to finance gap for this market stands at approximately $5.7 trillion.

In this report, we build on the research we conducted last year with Qorus, with a focus on the SME banking industry. We examine how AI technologies are transforming the landscape of SME banking by driving new efficiencies, fostering innovation, and, most importantly, delivering unparalleled value to customers. Additionally, we share perspectives from banking leaders in how they’ve approached it within their organizations, the challenges they’ve faced, and the future they envisage by leveraging AI/ML and generative AI.