SAP Fioneer launches tailored SME banking offering

By Gloria Methri

SAP Fioneer, a global provider of financial services software solutions and platforms, has announced the launch of its Fioneer SME Banking Edition. The solution will enable banks and neobanks to offer banking capabilities in a digital-first and data-driven approach, tailored to the financial needs of small and medium-sized enterprises (SMEs).

Fioneer SME Banking Edition connects banks to external data sources such as Open Banking, central company registry, e-commerce, and Enterprise Resource Planning (ERP) data, to form actionable insights that help SMEs to stay ahead. This will give SMEs transparency about cash flow and provide insight to the banks and enable e.g. smart funding options.

Fioneer SME Banking Edition covers front-to-back capabilities and seamlessly integrates with any core banking system. It enables banks to offer services that go beyond traditional banking products such as loans and deposits. Banks will be able to broaden their offering with embedded services and stronger financial advice directly for SMEs. The solution can also be easily integrated and connected to ecosystems via pre-configured APIs.

Charlie Platt, Managing Director of Banking at SAP Fioneer, said on the launch, “SMEs represent the lifeblood of the economy, and it is critical that they are able to access the financial services they deserve. Through our SME Banking Edition, banks will be able to create commercially viable, unique, and better banking experiences for SMEs that will help them to stay ahead in a challenging economic environment.”

Dirk Kruse, CEO of SAP Fioneer added, “The introduction of our Fioneer SME Banking Edition significantly strengthens how banks interact with SMEs. Utilizing our proven technology, we are facilitating banks to better serve SMEs in a dynamic economic landscape. Drawing inspiration from the B2C market, we are empowering banks to elevate their service offerings for SMEs.”