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SMEs want more mobile banking options

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Many small and medium-sized enterprises are shifting their focus to mobile processes, and they want their banks to catch up with them. Recent research from global transaction banking solutions company Fundtech found they are doing just that, with 38 percent of its survey respondents saying that developing or expanding their mobile banking channel is their bank's top priority for the SME market.

"For the millions of SMEs that consider their pickup trucks as their offices, the mobile channel provides a compelling level of convenience and control," said George Ravich, chief marketing officer at Fundtech. "The key to success is offering this market segment well-designed options that are developed for the three major platforms - smartphone, tablet and computer."

Fundtech conducted its survey with a live poll at the company's recent North American Insights client conference, which also revealed 60 percent of banking executives believe the demand for new services from their SME clients is more than the norm.

While SMEs want more mobile capabilities from their banking services, they need to be sure their firms are covered by cyberliabilty insurance policies.

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