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One area that stood out in our research study was the need for greater education amongst those interested in crypto. The inclusion of an education programme via a digital interface and secure, convenient interaction with an advisor could be a powerful value driver as banks and wealth management firms take their crypto offerings to the market.

After an extraordinary year in the financial industry, one important realisation is a greater need for the rapid launch of contemporary digital offerings. Financial institutions are upgrading in the areas of mobile and digital banking, creating ecosystems and launching digital second brands.

A recent report from McKinsey states that when it comes to banking, SMEs often find themselves stranded between large corporations and retail customers in terms of both products available and service delivery. This is a significant risk to banks because SMEs have traditionally received less focus and digital challengers are growing in the market to fill the gap. In the GCC countries in the Middle East, this certainly appears to be the case and one of the major challenges is around funding.

We recently held a webinar to discuss the results of our recent crypto research report with industry experts. Our international panel had a range of backgrounds and experience, it was a lively discussion with many different perspectives, but there were a few points on which everyone agreed.

More in-depth understanding of different business needs can improve SME satisfaction

Our new research report shows that demand for crypto is growing and investors are looking to established financial institutions for guidance and support