Business Banking: Trends for SMEs in 2025
Business Banking: Trends for SMEs in 2025
Who are the top-rated banks this year?
The latest Business Banking Service Quality survey, organised by the Competition and Markets Authority (CMA), highlights a clear shift in how UK businesses are choosing their banking partners. Challenger banks continue to rise in popularity, while some traditional high street names are finding it harder to keep up with changing expectations.
Who came out on top?
According to the survey, the three top-rated banks for overall service quality in 2025 were:
1. Monzo
2. Mettle
3. Starling Bank
These digital-first banks are winning over SMEs thanks to their:
- Streamlined digital platforms
- Faster account openings
- Easy-to-use online tools that make everyday banking simpler
Interestingly, Handelsbanken took fourth place, despite ranking lower for online and mobile services. Its focus on personal relationships and local support seems to have struck a chord with businesses that value tailored advice as much as digital convenience.
Is it time to switch?
Switching banks can feel like a big step, but there are potential benefits:
- Efficiency – better digital tools can save time on day-to-day transactions.
- Cost savings – some providers offer lower fees, competitive interest rates, or more flexible lending options.
- Sector knowledge – a bank that understands your industry and offers proactive support can be an asset for growth.
- System integration – it’s important to check how well your chosen bank integrates with your existing systems and accounting software. Smooth data flow between your bank and your accounts can reduce admin, improve accuracy, and give you better real-time insights.
That said, there are also considerations:
- The switching process takes time and needs careful management to avoid disruption.
- Not all digital-first banks offer the full range of services that your business might require. If you are a cash heavy business, cash deposit fees can add up!
Other takeaways for businesses
While the survey focuses on banking, it reflects a broader lesson: customers value both convenience and relationships.
- Challenger banks show the importance of speed, ease of use, and user-friendly tools.
- Handelsbanken’s success demonstrates the ongoing need for trust, personal contact, and tailored advice.
This balance applies beyond banking. It’s worth asking yourself:
- Are our systems easy to use?
- Do our clients and employees feel supported and valued?
- Are our processes integrated and efficient, or are we losing time to manual work?
Even small improvements in these areas can make a meaningful difference.
Looking ahead
The business banking landscape is evolving quickly. Whether this prompts you to review your own banking arrangements or simply reflect on how your business engages with its customers, it’s a reminder that expectations are changing. Staying responsive will help ensure your business is well prepared for the future.
Need advice?
If you’d like to discuss or explore how your banking arrangements integrate with your wider accounting and financial systems, please get in touch with our team. We’ll be happy to help you review your options and support you in finding the right fit.