Skip to main content
Skip to footer

  • Banking / WHITE PAPER

Banks and the Revival of SME and MSME Customers in COVID-19

 

Pradnya Khadilkar

Domain expert with TCS’ Banking, Financial Services, and Insurance business unit

You have these already downloaded

We have sent you a copy of the report to your email again.

Banks are addressing the needs of SME and MSME by being resilient and agile

The current pandemic has posed a lot of challenges to MSME and SME businesses beyond the existing stumbling blocks. Lack of market demand, unforeseen government regulations, and survival as a whole is an issue. The sentiments are low, and the way forward looks dim.

The silver lining in the cloud is that banks can play a pivotal role in nudging these business segments in the right direction. In order to accelerate the growth path, banks can guide the customers by bringing short-term to long-term fixes within the available ecosystem and the experience and market understanding they possess. Digital education, facilitating credit ratings, leveraging analytical tools, better structured financing, are some examples which are crucial in this journey. Agility and awareness are key aspects to drive success.

It is clear that banks need to evolve along with their customers to cope up with the uncertainties and stay aligned to current market situations — all of these will go a long way.

Related reading

Combining Embedded Finance with Customer Journeys for Greater Value

White Paper | 14 Mar 2023

Leveraging Data-driven Decision-making in the Mortgage Business

White Paper | 02 Mar 2023

Enhancing customer experience in banking with IVR system testing

White Paper | 21 Feb 2023

Driving Frictionless CX with TCS’ Digital Customer Engagement Model

Solution | 06 Feb 2023

Transformation starts here

Ready to move from enterprise to ecosystem?

Talk to our experts

Find out more