ARTICLE
Can APIs help FIs close the SME finance gap?
21 April 2024
In our latest report, Mambu and Google Cloud explore the role of APIs in helping FIs solve inclusivity issues and better attract and service SMEs.
In both emerging and mature markets, small and medium-sized enterprises (SMEs) are the economic lifeblood, powering innovation, GDP growth, and job creation.
Yet despite their significant contributions, large segments remain unable to access the necessary financial services they need to thrive.
“Today, 40% of global SMEs are not having their financial needs met.”
Levels of exclusion vary by region - 50% of ASEAN SMEs are underserved. They can even by impacted by demographics - 70% of women-owned SMEs have insufficient or no access to financial services.
Exclusion is not deliberate. Rather, the financing gap has arisen because of various challenges, including inadequate financial infrastructure, limited distribution channels, cash-flow visibility issues, and regulatory constraints.
Read our full report to understand more
To help SMEs realise more agile and cost-effective operations and services, Mambu and Google Cloud are using their on-going partnership to revolutionise financial services and foster more inclusive growth.
