Loxon at EFMA SME Summit
Jul 9, 2018
The challenges of the SME sector stood in the focus at the SME Banking Summit 2018 event organised by Efma.The majority of the presenters came from European banks and they talked about the challenges common to the area and their possible solutions.
We have learnt that many of the banks struggle with responding well to the needs SME clients due to the fact that these needs vary in a big spectrum and they require a lot of resources. This contributed to the situation that there are less services serving the SME clients than big corporations. So it is not surprising that many presenters emphasised that digitalisation should pay a major role in solving the challenges posed my by the SMEs. Specifically, acquiring, storing and processing the necessary data was the basis of most strategical solutions explained by them (e.g. big data solutions, predictive models).
Besides these, other topics came up like the agile methodology as a key to success and building an ecosystem instead of value chain based solutions: using the synergies between SMEs and supporting the companies with business operation consultations complementing the standard banking services.
On the second day of the conference GĂˇbor GyĹ‘rfi, the Regional Sales Manager of Loxon held his presentation about using artificial intelligence in the area of lending and risk management, which he also demonstrated through presenting an Early Warning and a Rating/Scoring project.