Using smart data to increase SME market share

Access to sophisticated business intelligence has long been restricted to companies with large market research budgets. But in a move exemplifying the increasingly innovative approach being taken to banking services, Deutsche Bank is now putting smart data in the hands of its small business customers (SMEs) in Italy.

The recent launch of db Impresa Extra (www.dbimpresaextra.it) positions Deutsche Bank as an aggregator of business intelligence, benchmarking and credit risk information from some of the leading market data providers in Italy.  The proposition is available to all DB customers free of charge, and delivers insights in an easy-to-use and digestible format.

Deepening customer relationships

Deutsche Bank can now position itself as the entry point to a range of effective and cutting-edge digital decision-making tools. By ensuring that these tools address both financial and non-financial needs, it has legitimately extended its proposition beyond core banking services.

Smart data enables SME customer engagement through:

• an online portal
• discussions between relationship managers and staff to discuss important business trends
• and proactive email communications with targeted and relevant market data and insights

Increasing digital mindshare

The introduction of a digital tool aggregation strategy brings two very significant benefits to Deutsche Bank in a highly competitive marketspace:

• Differentiation

SMEs consistently tell us they would actively consider switching banks if they were offered a service that went beyond the processes traditionally associated with financial transactions.

Not one of the services offered within Deutsche Bank’s platform is currently available to SMEs in Italy. db Impresa Extra gives Deutsche Bank a compelling answer to the question “What makes you different from all the other banks?”

• Enhanced customer knowledge

In order to get the most out of these services, customers must share information about their industry, business metrics and future plans. These details provide a rich source of data, which Deutsche Bank can use to establish a meaningful and relevant dialogue about how the bank can help these SMEs succeed and grow.

With this platform, Deutsche Bank gives us a glimpse into the future of how banks can use innovation to establish greater digital mindshare for their SMB customers.

To find out more about fintech for SME and digital banking solutions for small businesses, visit our solutions for financial institutions page