​Small and medium enterprises (SMEs) often have different needs than larger commercial organizations. SME decision-makers tend to rely more on personal experiences when setting professional expectations, while larger companies typically follow established organizational guidelines. In response, banks must adapt their digital services to remain competitive with other service providers, such as online retailers and payment platforms.

Advancements in banking technology, data analytics, and customer relationship management can provide a more personalized and engaging service model than traditional relationship management approaches. Banks should recognize that SMEs often have different decision-making dynamics than larger organizations, which are typically more detached from individual customer expectations. This consumer-oriented approach is key to understanding and serving the SME market effectively.

When choosing a banking partner, customer service quality and client loyalty are important considerations for SMEs. While factors like branch location and online service offerings are significant, SMEs often prioritize customer service. Despite this, SMEs generally remain loyal to their banks, only considering switching to more favorable pricing or improved digital services.

Although SME decision-making behaviors and needs can vary significantly depending on the organization and industry, banks often address these preferences through a relationship-managed service model, which may still be effective in some situations. However, digital tools can offer a more comprehensive solution to these challenges. Technologies such as automated meeting notes, AI-driven data mining, digital assistants, integrated relationship-manager workbenches, and proactive scheduling tools can help banks better meet SME needs.

​Digitalization is enabling the agricultural sector in the developed world to improve crop yields, fine-tune crop strains, and access better economic opportunities. However, farmers in developing nations have often been left behind. The Ricult Farmer App aims to change this.

Developed by teams at the Massachusetts Institute of Technology, Ricult operates in Pakistan and Thailand. The app offers smallholder farmers free access to weather updates, satellite imagery, pest management tools, and measurement aids, using artificial intelligence (AI) and machine learning (ML). It also helps farmers secure loans for urgent needs.

According to co-founder Aukrit Unahalekhaka, around 400,000 farmers in Thailand have signed up to access the Ricult Farmer App. The platform has also increased farmers’ income by at least 50 percent. Ricult is often compared to a robo-advisor for its range of features.

Additionally, RicultX, another platform, enables farmers to monitor harvests and create yield forecasts. It also interacts with satellite imagery maps to improve decision-making based on prediction models.