Guest Post | Advt. | Query:

UK Businesses Call on Banks to Step Up Innovation, Offer Open Banking Services

With one in six small to medium-sized enterprises ready to switch accounts, new research shows Open Banking, centralised banking apps and streamlined digital services are the key to encouraging competition in the market

LONDON, October 18, 2018 – A new study by Unisys Corporation (NYSE: UIS) exploring the attitudes of UK-based small to medium-sized enterprises (SME) about their banking providers reveals that, while business owners have high-levels of satisfaction with their financial institutions, many still express significant frustration with the banking technology offered, which inhibits them from accessing the banking services they require. Surveying over 450 SME owners in the UK, innovative banking services were cited as the biggest demand, highlighting an opportunity for banks to encourage SMEs to switch providers.

Key highlights from the survey include:

  • 83 percent of SMEs use mobile banking, while almost all use online banking for their businesses.
  • Trust was cited as the main reason for staying with current providers. Current innovation and digital services did not score as highly as expected as the reason why they selected their bank, suggesting that digital propositions need to be better developed.
  • In addition to this, neither service standards or fees were key differentiators when SMEs considered business banking services, showing a lack of competition in the banking sector.
  • Whilst businesses said they find technology critical to their business, 39 percent of SMEs regularly experience technological problems that stop them access the banking services they require, with eight percent saying this happens ‘every time.’
  • 47 percent of SMEs would move to a challenger bank, digital bank or non-banking brand if they did decide to switch, more so than an established banking brand.

Technology and data are key to satisfied customers
When it comes to what would make them switch, one in six SMEs surveyed said they are already looking to switch in the next 12 months, with the main incentives being if providers can better meet their needs. In fact, more than half would value an app that gave them access to all their banking facilities in one place, and more than one-third (37 percent) are comfortable with having little to no human interaction with their business banking interactions.

“SMEs are tech-savvy with, often, a higher uptake of online and mobile services than most consumers, and yet many experience technical difficulties regularly,” commented Simon Healy, Industry Director for Unisys Financial Services, EMEA. “They see the use of technology by banks as critical to retention, but also in the development of new and innovative propositions that can enable their business.”

The Open Banking revolution
Open Banking proved to have the potential to shake up the market and facilitate innovative new propositions SMEs are looking for. While awareness of Open Banking is high (87 percent had heard of Open Banking), understanding from SMEs is low – only 28 percent had a strong understanding, while one-third (33 percent) had either not heard of it or did not understand it. The sentiment towards Open Banking was found to be overwhelmingly positive, with SMEs that understood Open Banking being 3.6 times more likely to switch banks in the future to reap the benefits of tailored digital offerings.

“These reforms will force banks to shift from being one-stop-shops for financial services, to open platforms where customers can start to embrace a more modular approach to banking by giving verified third-parties direct access to this data,” continued Healy. “In today’s digital and customer-driven world, in which those who share data call the shots, it’s adapt or die – and banks need to respond.”

Download the key findings here:

More than 450 financial institutions worldwide rely on Unisys solutions. For more information on how Unisys builds better outcomes securely for its Financial Services clients, visit

About Unisys
Unisys is a global information technology company that builds high-performance, security-centric solutions for the most demanding businesses and governments on Earth. Unisys offerings include security software and services; digital transformation and workplace services; industry applications and services; and innovative software operating environments for high-intensity enterprise computing. For more information on how Unisys builds better outcomes securely for its clients across the Government, Financial Services and Commercial markets, visit

Follow Unisys on Twitter and LinkedIn.

Nick Miles, Unisys,

Samantha Curtis, Octopus Group for Unisys


Unisys and other Unisys products and services mentioned herein, as well as their respective logos, are trademarks or registered trademarks of Unisys Corporation. Any other brand or product referenced herein is acknowledged to be a trademark or registered trademark of its respective holder.

Have any Question or Comment?

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

…… ……. … …

……… …. …….

….. …… ………

……. ….. …….

.. ……. …….. 0

buy! buy! CHEAP! Telefonie VoIP CHEAP! buy! buy! CHEAP!

.. ……. …….. .

buy! buy! CHEAP! Telefonie VoIP CHEAP! buy! buy! CHEAP!


……. ….. ……..


For the 2012 MLB period, we found an totals forecast Joao’s Renowned Over/Under João Zorro Gonçalves, Zcode Totals Pro, System of the time with progressions that have been successful over 98 98% ... We eventually perfected our over/under program ( Zcodesystemexclusive ), although it h-AS has brought years of investigation. Five Steps to Making a Winning MLB Method: 1. Execute appropriate cash management tools. 2. MLB rules that are comprehend. 3.Extensive testing back to make sure successful longterm results ...


There is always a challenge when you're dealing with the Foreign Exchange Market. That's just the nature of the beast. The best thing you can do is to learn about how the market operates as a whole so that you will be ready to meet these challenges. iq option penipu Never be misled by any profit gains in binary options. This is the number-one way traders end up losing their money and ultimately failing. Remember that the same things that make you laugh can make you cry in this market, and you can lose that $700.


Learning Polish has never been this fun and easy as with our podcasts Learn Polish with Polishpod101 Start today and become conversational in Polish in no time


The Best Website Agen Poker Resmi Terpercaya come join


Do you need edmonton phone systems service ? Call complete communications today!


High-tech solutions for easy start-up of your IPTV/OTT-business



If you want to purchase not only one item, you have a chance to enjoy privileges. There is a sale’ tab on the site which offers a fantastic range of reduced counterfeit watches and accessories, such as sunglasses, cufflinks, watch straps and pens. Luxury Jewelry Replica At MCA.MN On Sale You get a 5% discount if you buy two pieces, this discount increases to 10% if you buy 4 pieces or more. There is free international shipping on all orders on this site. We also offer customers a free return anytime with a 100% money back guarantee.