Huffington Post: Banks Win Again; SMEs are Fighting a Losing Battle for Better Services

Written by: Mike Laven
Published on: July 17, 2012

Huffington Post: Banks Win Again; SMEs are Fighting a Losing Battle for Better Services

“……..We can do better. The alternatives are already here and innovation in the New Finance sector is progressing at a lightening pace. Entirely new banking models such as Fidor Bank in Germany, Holvi in Finland and Simple and Movenbank in the US will soon migrate to the UK. There are already several young firms focusing on niche elements of financial services to deliver exceptional, transparent and cheaper services to SMEs and consumers. There are firms providing Peer to Peer based access to credit, such as Fundingcircle, Zopa and Fundingknight, other firms providing lower cost access to currency and international trade services, such as Tradeshift, Currencyfair, Transferwise and Currency Cloud.”