KBC Bank Ireland has enhanced its new business banking service specifically designed for professional SMEs in Ireland.
KBC Business Banking, which has been co-designed with input from the professionals, offers specialised support and a suite of products for businesses including business current account, business loans, business deposits, professional fee finance, tax loans and business credit cards.
The result is a full-service business banking service for every customer, with a dedicated KBC business partner specialising in the professional sectors, business support team, tailored products and digital banking platform.
KBC Bank Ireland recently conducted research among professionals and SMEs to ascertain the banking pain point affecting their business. The research found that a real pain point for some professionals is having to explain their business every time they engage with their bank particularly when they have a credit requirement.
Commenting on the new initiative, Head of Business Banking at KBC Bank Ireland, Garrett O'Donohoe said, "There is a clear disconnect between certain specialist professions and their financial provider, with a clear lack of understanding of their business needs at the core. Recent research from Accenture has shown that one in four Irish SMEs expect to switch banks this year, with 76 percent admitting to being unhappy with an area of service from their current provider, including knowledge of their sector, lending rate and lack of relationship manager, among others."