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Annual Report 2020 © International Finance Corporation 2020 ANNUAL REPORT 2020 © INTERNATIONAL FINANCE CORPORATION 2020. All rights reserved. 2121 Pennsylvania Avenue, N.W. Washington, D.C. 20433 www.ifc.org The material in this work is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. IFC encourages dissemination of its work and will normally grant permission to reproduce portions of the work promptly, and when the reproduction is for educational and non-commercial purposes, without a fee, subject to such attributions and notices as we may reasonably require. IFC does not guarantee the accuracy, reliability or completeness of the content included in this work, or for the conclusions or judgments described herein, and accepts no responsibility or liability for any omissions or errors (including, without limitation, typographical errors and technical errors) in the content whatsoever or for reliance thereon. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank Group concerning the legal status of any territory or the endorsement or acceptance of such boundaries. The findings, interpretations, and conclusions expressed in this volume do not necessarily reflect the views of the Executive Directors of The World Bank or the governments they represent. The contents of this work are intended for general informational purposes only and are not intended to constitute legal, securities, or investment advice, an opinion regarding the appropriateness of any investment, or a solicitation of any type. IFC or its affiliates may have an investment in, provide other advice or services to, or otherwise have a financial interest in, certain companies and parties including those named herein. All other queries concerning rights and licenses, including subsidiary rights, should be addressed to IFC’s Corporate Relations Department, 2121 Pennsylvania Avenue, N.W., Washington, D.C. 20433. International Finance Corporation is an international organization established by the Articles of Agreement among its member countries, and it is a member of the World Bank Group. All names, logos and trademarks are the property of IFC, and you may not use any of such materials for any purpose without the express written consent of IFC. Additionally, “International Finance Corporation” and “IFC” are registered trademarks of IFC and are protected under international law. TABLE OF CONTENTS Acronyms......................................................................................................... 4 1 FOREWORD .................................................................................................. 5 2 SME FINANCE FORUM IN A NUTSHELL .............................................. 6 About the SME Finance Forum ................................................................... 7 Member network .......................................................................................... 9 Member services ............................................................................................12 3 2020 – A YEAR OF CHANGE ................................................................ 13 Learn ................................................................................................................ 14 Link ................................................................................................................. 18 Lead ................................................................................................................. 19 3 5 MEET THE TEAM ..................................................................................... 23 6 ADVISORY BOARD .................................................................................. 24 7 SME FINANCE FORUM’S AMBASSADORS ........................................ 25 . SME Finance Forum - Annual Report 2020 ACRONYMS ABAC APEC Business Advisory Council AFI Alliance for Financial Inclusion APEC Asia-Pacific Economic Cooperation B2B Business-to-Business CEO Chief Executive Officer CPBB Consumer, Private, and Business Banking DFI Development Finance Institution FIG Financial Institutions Group GDP Gross Domestic Product GPFI Global Partnership for Financial Inclusion ICCR International Committee on Credit Reporting IFC International Finance Corporation MSMEs Micro, Small and Medium Enterprises NFS Non-financial Services N/A Not Applicable NBFI Non-bank Financial Institution OECD Organisation for Economic Co-operation and Development SMEs Small and Medium Enterprises 4 SWIFT Society for Worldwide Interbank Financial Telecommunications UK United Kingdom WEF World Economic Forum We-Fi Women Entrepreneurs Finance Initiative SME Finance Forum - Annual Report 2020 FOREWORD • Our members-only webinars were attended by representatives from more than 364 unique institutions throughout the year. Each month, there were an average of 110 members engaging on key topics, such as digital banking, payments innovation, data analytics, supply chain finance, and blockchain. • Member institution, Wells Fargo, hosted an immersion program in San Francisco on Innovation in Small Business Banking, together with our FinTech friends from SizeUp, Veem and Kountable. At the same time, U GRO Capital and Experian offered virtual study visits during the 2020 Global SME Finance Forum. • Our third annual Global SME Finance Awards competition again drew over 100 entrants. Over 70 distinguished judges selected fifteen winning institutions from across the globe The year 2020 has been a challenging one for all of us. We have seen for four original categories: Product Innovation of the Year; the COVID-19 pandemic throw the world into uncertainty. In this Responsible Digital Innovator of the Year; SME Bank of the context, we are proud to have launched new services to help our Year; and Best Bank for Women Entrepreneurs. Endorsed by members deal with this extraordinary crisis. the G20 Global Partnership for Financial Inclusion (GPFI), these awards not only recognize the innovators, but also encourage Since our launch in November 2015, we have grown from a few other financial institutions and FinTechs to learn and adopt dozen committed, early adopters into a global network that includes best practices. more than 200 banks, non-bank financial institutions, FinTech companies, development banks, and others. The unprecedented circumstances have not stopped more institutions from exploring Our second annual Global SME Finance Awards competition membership opportunities. Indeed, we have seen an increase in drew over 140 entrants, representing a 40 percent increase from membership of 25 percent over the last year. its inception year. Over 70 distinguished judges selected sixteen winning institutions from across the globe. In addition to awards A few highlights from 2020 include the following: in the three original categories—Product Innovation of the Year, 5 Responsible Digital Innovator of the Year, and SME Bank of the Year— • Since March, we have hosted weekly virtual roundtables on we introduced a new award to recognize the special contributions COVID-19 mitigation efforts to provide you with opportunities of financial institutions serving women-owned SMEs. to share and learn from each other’s experiences on topics such as collections/grace periods; disruptions to supply chains; Our members continue to inform us that our network is making risk management; loan classification and credit information a positive difference. The results of the 2020 SME Finance Forum sharing; and support to women entrepreneurs, to name a Member Survey show that, through participation in the Forum’s few. More than 2,700 senior executives from 240 different activities, two-thirds of respondents acquired new knowledge institutions have attended the roundtables! about SME banking that was directly relevant to their work; 23 percent formed new business partnerships; 20 percent engaged in • As part of our COVID-19 mitigation program, we also launched a productive dialogue with policymakers; and 9 percent made or a brief monthly survey, the Pulse Survey, to determine how received one or more investments that started with our initiative. your institutions and SME clients are faring. We are very grateful to all of you who took the time from your busy days to respond. With the hope brought by the new COVID-19 vaccines, hopefully, (This year, we are switching to a quarterly Pulse Survey). 2021 will be a recovery year. We will strive to make it as productive • Our first virtual Global SME Finance Forum held at the end as possible, adapting to the ever-changing context, and building on of October was our most successful annual conference yet. our strengths in virtual knowledge sharing and networking. We will More than 2,600 participants representing more than 1,000 sustain the far higher level of virtual knowledge-sharing activities institutions and 149 countries convened online to listen to 80 we established in 2020. In partnership with our members, donors, speakers, visit 30 exhibition booths, and network extensively and partners, we will continue to focus on facilitating partnerships for three days. We made many new friends (and several new and investments, while also leveraging and fostering innovations to members) at this forum, our annual flagship event. help financial institutions, FinTechs, and development banks serve a • During our annual members meeting, we launched two new greater number of SMEs more effectively. initiatives. Our Leader Dialogue Series
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