Banking on Banks Report 2026: Closing the financial services gap for European businesses

European and UK businesses are grappling with one of the most volatile operating environments in modern history. They are coming under intense financial pressure arising from high labour and energy costs, as well as tariff wars and geopolitical tensions that are squeezing profit margins and straining supply chains. The lingering effects of the cost-of-living crisis are also rippling across the continent, with weak consumer demand providing business decision-makers with more pain. 

Europe’s businesses are relied upon as engines of growth, job creation and economic resilience – yet they are facing this difficult climate with slower, more manual financial services. They consistently report a customer experience that falls far short of what’s on offer to their consumer counterparts. 

This report drills down into the variance between consumer and business services in areas including banking, lending and insurance, and specifically where businesses feel services are missing the mark. The gap is extensive; it spans speed and administrative burdens, access to credit and cost, the pace of innovation, business size and ultimately the extent to which providers actually understand the businesses they seek to serve. 

Europe’s SMEs are feeling left behind 

Sitting within this consumer and business divide is an even sharper one – between larger organisations and Europe’s SMEs. It’s estimated micro and small businesses make up 99% of enterprises within the EU, so it’s fair to say that they represent the continent’s economic backbone. However, our research highlights that they are much more likely to feel locked out of financial services than larger organisations. 

While 92% of large businesses have taken up a new financial product within the last 12 months, the proportion drops to 71% of SMEs. More than double the number of large businesses (37%) than SMEs (18%) have accessed a business loan from a bank. 

Ultimately, SMEs with fewer financial resources than a larger company, or a limited filing history, aren’t necessarily a higher risk for lenders. With 43% of SME decision-makers and 56% of those in micro businesses saying that providers don’t understand their needs, harnessing richer data insights, real-time affordability assessments and analytics will enable these providers to build that deeper understanding.

Financial insights into Ireland 

Irish business decision-makers hold the strongest belief in the sector’s value of any market surveyed, with 86% saying financial services play an essential role in Europe’s economy, compared to 75% overall. 

But they are also the most frustrated. Ireland leads on multiple measures – 70% wish they could access business services as easily as personal ones, 67% report more paperwork and manual processes in business banking, 61% find business eligibility harder to meet than personal criteria and 52% say a lack of innovation is stifling their growth. Irish businesses value their financial providers, but their expectations are still far from being met. 

Explore the trends reshaping business financial services across Europe. Download your free copy of Banking on Banks 2026.