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Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME" is used by many national agencies and international organizations such as the World Bank, the OECD, European Union, the United Nations, and the World Trade Organization (WTO).
Banking services which are regarded as retail include provision of savings and transactional accounts, mortgages, personal loans, debit cards, and credit cards. Retail banking is also distinguished from investment banking or commercial banking. It may also refer to a division or department of a bank which deals with individual customers. [1]
The economic and banking importance of the small and medium enterprise (SME) sector is well recognized in academic and policy literature. [2] [3] It is also acknowledged that these actors in the economy may be under-served, especially in terms of finance. [4] This has led to significant debate on the best methods to serve this sector.
Retail banking involves providing individuals and sometimes small businesses with financial services such as checking and savings accounts, credit cards, auto loans, mortgages, insurance and ...
Initiatives like Open Banking and the Revised Payment Services Directive (PSD2) were being proposed as a way to promote competition in the banking industry — allowing smaller challenger firms to ...
Americans already do most of their banking online — at least 7 out of 10 U.S. households are enrolled in digital banking, according to a survey on digital financial literacy, with 95% of those ...