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CEO Note

Collaborative partnerships with Digital Lending Solutions Fuel SME Growth

Globally, we have seen a growing trend for major financial institutions incorporating digital lending platforms into their ecosystems to improve their service to their small business segments. This trend is reflected in partnerships such as JPMorgan Chase with Ondeck, Citi Group with Lending Club, and Santander with Kbbsge. These collaborations have not been just about digital technology deployment, they also provide banks with a faster and simpler method to serve the SME segment and grow new revenues efficiently.

 

Is there an opportunity for this region to embrace such collaboration models? Potentially, as the Fintech industry in the UAE continues to rise, the ability to provide alternative financial solutions, i.e through digital platforms such as Beehive, will increase. Small businesses historically have been a strength for this community and adapting such a strategy with digital lending platforms, may allow banks to further fuel their financial support to this market and in turn the growth of the SME ecosystem in the UAE.