KBC launches new full service business banking for professionals and SMEs

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.

Darragh Lennon, Director of Distribution at KBC Bank Ireland, said: “At KBC, we recognise that every business is unique and that one size doesn’t always fit all. In the development process for our new business banking service, we consulted with professional SMEs to better understand their banking needs. The key finding and point of differentiation for our offer is that Irish professional businesses are increasingly time poor and are looking for more efficient ways to bank. Professionals see banking as labour-intensive and something that should be easier and less cumbersome so that they can focus on what really matters, growing their business. To achieve this, the bank is now bringing competition, choice and innovation in banking across a range of sectors including finance, legal, medical, engineering, architecture and pharmacy.

“Every business banking customer will have a dedicated KBC business partner and business support team giving customers direct access to people with the experience to support their business growth. This means customers will have the same direct point of contact and continuity with KBC every time they phone, email or meet to discuss their business needs.”

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. This takes time away from running their business.

Garrett O’Donohoe, Head of Business Banking, KBC Bank Ireland, 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 per cent 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. KBC business banking offers customers the expertise, knowledge and support that they deserve, and we would encourage those considering a new banking provider to come and speak to our dedicated team. For those who don’t have the time to visit us – then we can come to meet you, at a time that suits.”

For more information, see https://www.kbc.ie/business.