TSB won the prize for corporate finance/commercial Bank of the Year at this year’s SME Awards, held at London’s Grosvenor House Hotel on Park Lane - the inaugural event designed to showcase the best in UK business.
With their capacity to adapt in an ever-changing business environment, SMEs are vital for the growth of the UK's economy and these awards recognised excellence across the business landscape - from social media and sales growth to customer experience and banking.
Here, we catch up with Carol Anderson, Scotland Branch & Business Banking Distribution Director at TSB, to talk about the award.
What does it mean to win the award for corporate finance/commercial Bank of the Year?
Our partners work tirelessly to serve the businesses in their local communities, so we’re immensely proud that their efforts are being recognised. TSB was born to bring more competition to British banking and to give customers more choice as well as the kind of banking they want and deserve.
What do you think set you apart from the other short-listed companies?
Our mission is simple, straightforward and transparent – we exist to serve local customers and local businesses to help fuel local economies. We don’t get involved in any funny business, so everything we do is dedicated to giving them the best service. We offer a great range of business products – current accounts, savings accounts and a range of lending products to help local businesses to grow. No two businesses are the same so we offer all business customers either a dedicated relationship manager or easy access to the support of a team of relationship managers, so they can benefit from a bespoke service tailored around their needs.
What are the main challenges SMEs face over the next few years?
Taking those first steps into the unknown can be the most daunting – and the most exciting – time for business owners, especially at times of uncertainty, so knowing they have the right help and support can make a huge difference. We recognise that every penny counts for customers trying to get their business off the ground so we offer 18 months of free day-to-day banking for customers switching their business account to us or just starting out. Similarly, we know that managing your own business is a round the clock job so we provide a 24 hour contact centre to ensure customers always have someone to turn to whenever they need help. With the extra firepower of Sabadell, we hope to increase the support we offer to Britain’s prosperous SME market.