April 19 2016.

A survey by the Bank of England revealed an increase in the proportion of loans that banks approved for small and medium-sized businesses for the fourth consecutive quarter this year.

It is evident that the demand for loans from SMBs is on the rise, and with the rise of quicker and more efficient lending options from challenger banks and peer-to-peer platforms, banks are at the risk of being dethroned as leading business lenders for entrepreneurs.

"Expectations of banks are rapidly changing, and we understand that we must adapt. The reality is customers demand faster and simpler access to their banking services, when and how they want," Richard Davies, COO of HSBC Commercial Banking UK, stated.

This announcement follows the bank's plans to introduce a.....

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