Intelligent SME.tech Issue 49 | Page 10

// LATEST UPDATES //
Online trust crisis costing UK businesses thousands each year
A growing ‘ trust deficit ’ is costing UK SMBs thousands of pounds each year , as they struggle to know who to trust when doing business online . New insights from B2B Stars reveals that a third ( 33 %) of businesses are finding it increasingly difficult to trust the people and companies they encounter online .
The research highlights how nearly 30 % of businesses are struggling to build trust with new contacts , while 29 % report finding it hard to distinguish between fake and genuine profiles on places like social media platforms . As a result , SMBs are losing an average of £ 93,000 a year due to poor decisions driven by unreliable information , false profiles and misleading claims .
Compounding the financial pressures that many small companies already face , this lack of trust online leads to inefficiencies and ineffectiveness in finding the right companies to partner with . The ultimate long-term consequence is a reduced competitiveness and growth of the UK ’ s SMB sector .
Personetics empowers over 150 million monthly users with 1.2 billion insights for financial wellbeing
EIB Global and KCB Bank sign deal to support SMEs , youth and women
Personetics , a global leader in AI-powered personalised engagement solutions for financial institutions , has announced a significant milestone in its growth and impact across its global user base . The company now empowers over 150 million active monthly banking customers with 1.2 billion monthly insights , illustrating datadriven personalisation ’ s powerful role in improving financial wellness and decision-making .
Personetics serves more than 130 financial institutions worldwide , including 18 of the top 40 banks in North America . The company ’ s actionable , real-time financial insights have received an average rating of 4.6 out of 5 from customers , demonstrating their high value on personalised financial guidance .
“ We ’ re not just growing in numbers ; we ’ re making a real difference in people ’ s financial lives ,” said Udi Ziv , CEO of Personetics . “ The key is using technology to transform raw transactional data into actionable insights that truly benefit both consumers and SMBs / SMEs . When banks present information to customers , it should help them understand their entire financial picture and offer clear steps to improve it .”
The EIB Global and KCB Bank Kenya signed a € 230 million deal to support SMEs , youth and women in Kenya , a partnership in which EIB Global provides a € 115 million credit line , which KCB will match .
This is EIB Global ’ s largest ever financing support to businesses in Kenya to date . The financing is part of Team Europe ’ s ‘ Investing in Young Businesses in Africa ’ – IYBA initiative .
A total of € 30 million will go to women-led / owned microenterprises . The package will also see € 100 million dedicated towards working capital and new investments of SMEs , specifically targeting businesses
owned or run by women , in line with the 2X Challenge criteria .
The Gates Foundation will provide technical assistance for the project and address a range of issues that limit women with low incomes from accessing finance – such as lack of collateral or credit history . This support will help to lower the cost of loans to women through digital technology and risk sharing . �
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Intelligent SME . tech