In this episode of Deciphered, Adam Davis, Associate Partner at Bain & Co, is joined by Jeff Tijssen, Expert Partner and Global Head of FinTech, Bain & Co, Christina Riechers, General Manager, Square Banking and Richard Davies, Chief Executive Officer, Allica Bank, to discuss SMB: Is there still a growth opportunity, or are they now over-served?
Timestamps:
- 00:00 Introduction
- 07:37 SMB: Still a growth opportunity, or now over-served?
- 12:52 Strategy of Square banking & what is your remit?
- 15:27 Differentiating Square banking & gaining autonomy
- 17:40 Success factors at Allica Bank
- 19:33 Have SMB margins held for providers through the cost of living crisis/rising interest rates?
- 23:52 How much share should fintechs take from incumbent FIs and banks?
- 27:46 How hard is it to capture ongoing SMB engagement without a full integrated banking offering?
- 29:53 What new products are Square and Allica Bank looking to provide?
- 34:15 Jobs for small businesses: What are they, and how are they effected by technology?
- 39:55 What are the differences in serving increasingly larger businesses, and how do jobs change with this?
- 44:47 Should we expect consolidation in facets of SMB? And who's competitive in the space?
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