IDC insights: SME banking and lending in India
Business banking digitalization continues to lag behind retail, leaving Indian SMEs to navigate inefficiencies and fragmented services. This IDC report explores SME digital banking adoption across seven Asian markets—focusing on India—and delivers benchmarks and insights to help banks create seamless, secure, and cost-efficient SME banking and lending experiences.
As both business operators and individuals, SME owners increasingly expect a unified financial view. In Asia, 85% prefer a single banking partner; in India, that number rises to 89%, with 67% seeking end-to-end banking solutions. Moreover, 22% value banks that reuse existing data to integrate retail and SME banking services.
This IDC Analyst Brief #AP7325 India November 2024 is commissioned by Backbase.
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Access primary IDC findings into India's SME banking and lending market
Get first-in-market insights into the portfolios Indian business owners prioritize, along with their benchmarks and expectations, to transform SME banking strategies, drive growth, and optimize cost to serve.
The growing demand for a unified banking experience
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Challenges of stagnation in SME banking progress
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How SME lending drives financial inclusion in India
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Quantified impact of digital disruptions on business continuity
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Key security concerns impeding digital transition
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User experience benchmarks and performance expectations
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