SME
GeneralSmall and Medium-sized Enterprises
Definition
Small and medium-sized enterprises by scale of business, as defined by the CMA, with a turnover less than £6.5m per annum. SMEs are a key beneficiary of Open Banking, gaining access to better financial products and services.
Related Terms
Frequently Asked Questions
What is Small and Medium-sized Enterprises?
Small and medium-sized enterprises by scale of business, as defined by the CMA, with a turnover less than £6.5m per annum. SMEs are a key beneficiary of Open Banking, gaining access to better financial products and services.
What does SME stand for in Open Banking?
SME stands for Small and Medium-sized Enterprises. It is a fundamental concept in Open Banking and PSD2 regulations. Small and medium-sized enterprises by scale of business, as defined by the CMA, with a turnover less than £6.5m per annum. SMEs are a key beneficiary of Open Banking, gaining access to better financial products and services.
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PSU
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Smart Data
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