Intelligent SME.tech Issue 26 | Page 9

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Chqbook and NSDL Payments Bank launch digital current accounts

Chqbook , India ’ s first neobank for small business owners , has launched its digital current account . Small business owners like kiranas , chemists and others running proprietorships can open a current account instantly on the Chqbook App from their smartphone , in a language they are comfortable with . The current account is available in eight languages , making it more accessible and easier to understand .

The digital and instant current account facility is a timely innovation for Indian businesses .

It furthers Chqbook ’ s vision of financial inclusion by empowering owners to access financial services to run and grow their businesses .

A majority of small business owners transact through savings accounts leading to accounts being frozen due to multiple credits or current accounts of cooperative banks giving them absolutely no digital interface . A banking transaction typically means a visit to a branch , which is time-consuming , tedious and involves paperwork .

SMBs offering employees flexible workstyle options have higher customer retention rates

Intermedia Cloud Communications , a leading provider of cloud communications and collaboration solutions to businesses and the partners that serve them , has released revealing new insights on how remote and hybrid work are impacting business operations , employee satisfaction and customer retention for SMBs .

The survey of more than 300 SMB owners and senior leaders , conducted for Intermedia by Sapio Research , has revealed that while many companies are moving into hybrid work models , SMBs that offer employees greater workstyle flexibility are seeing significant benefits that can positively impact the bottom line – including higher customer retention rates .

Studies have shown a direct correlation between engaged employees and satisfied customers and providing employees with greater flexibility as to where they work enables them to be more engaged and responsive when customers need them .

OpenText reveals worry about cyberattacks due to geopolitical tensions

OpenText has released results of the OpenText Security Solutions 2022 Global Small-Medium Business ( SMB ) Ransomware Survey . Findings show growing concern about ransomware attacks , the impact of geopolitical tensions and rising inflation rates . Nearly all of the respondents ( 88 %) noted they are concerned or extremely concerned about an attack impacting their business .

“ SMBs are a sweet spot for hackers to exploit because they often lack cybersecurity resources , both technology and security expertise ,” said Prentiss Donohue , Executive Vice President , OpenText Security Solutions .

“ Today ’ s complex threat landscape presents a huge risk to SMBs that don ’ t have sufficient cyber-resiliency preparation to stop the spread and recover quickly from an attack . With adversaries becoming increasingly sophisticated and relentless , a multi-layered protection strategy is no longer a nice to have , it is a necessity .”