Leveraging AI to boost business: A guide for SMEs in 2025

Andrew Maren, founder and CEO at ProfitShare Partners

According to Andrew Maren, founder and CEO of financial fintech firm ProfitShare Partners (PSP), the application of AI technologies to enhance various financial services and processes is on the rise across the finance sector – but the smart money is on companies that back up AI with human contact.

“In finance, transparency and trust are critical, so offering the option to speak to a human should be based on key triggers,” says Maren. “These may include when sensitive information like loan applications or complex financial advice is being discussed. “For example,” he notes, “after a chatbot handles basic queries, it should offer human support once the conversation becomes about decisions that impact the client’s financial future, like approving or denying financial requests. It could also be time-based, ensuring that clients are aware they can escalate to a human agent at any point in the conversation.”

This is all about the customer experience (CX), which ultimately translates to satisfaction and loyalty, a key aim within ProfitShare Partners. Says Maren: “Customer experience is critical for repeat business. In competitive markets, CX often differentiates successful businesses from others.

“If a customer feels valued and their experience is seamless, they are more likely to return. In the financial sector, where trust is paramount, positive customer experiences can lead to stronger relationships, higher retention rates and word-of-mouth referrals.”

AI in personalisation and predictive analytics

A huge benefit to any financial organisation is AI tools that can analyse customer behaviour – including preferences and buying/banking history – to offer bespoke product recommendations and marketing messages.

“Data is the backbone of any modern business, but for many SMEs it can be overwhelming to manage and extract actionable insights from their growing volumes of data,” Maren asserts. “AI simplifies the process by providing advanced data analytics capabilities that can help SMEs make more informed decisions.

“SMEs can use AI-driven predictions to anticipate customer needs before they even make a request, whether it’s through personalised marketing offers, proactive customer service, or customised product recommendations,” he says, adding that by analysing behavioural data, AI can suggest upselling or cross-selling opportunities, and even help SMEs to identify when a client might be facing financial difficulties, and offer assistance proactively.

AI in money management, streamlining financial operations

As a fintech firm that provides access to finance based on purchase orders or invoices, PSP understands that effective money management is vital for the success of any SME, and AI solutions can streamline financial operations by automating routine tasks, providing better insights into financial health and enhancing financial planning.

Here, Maren highlights the fact that AI tools can be extremely beneficial by providing real-time insights into cash flow trends, helping SMEs forecast and prepare for potential shortfalls or surpluses.

“For SMEs seeking capital, PSP can use these insights to assess the fiscal health of applicants more accurately and in a data-driven manner. AI could also flag potential risks earlier in the application process, making it easier for PSP to offer tailored financial solutions that address clients’ immediate and future needs,” he notes. “This not only improves our client’s ability to manage their finances but also increases ProfitShare Partners’ efficiency in allocating capital.”

Fraud and cyber threats: Another layer of security

A final AI list-topping area for PSP is cyber security and fraud, both of which can impact any business to the point of closure.

“Fraud and cyber threats are growing concerns, especially as digital transactions increase,” says Maren. “AI looks like being an essential tool in identifying suspicious activities in real-time by analysing transaction patterns and detecting anomalies that might indicate fraud far quicker and with more accuracy than any human can.

“For fintech companies and clients, AI-driven fraud detection systems can significantly reduce response times, preventing fraud before the damage is devastating.”

By enhancing cybersecurity through predictive analytics, AI assists fintechs to anticipate and mitigate threats before they become critical, thereby protecting sensitive financial data and transactions.

“Importantly,” Maren suggests, “AI could also sound the alarm for organisations governed by privacy laws that carry both a specific reporting time and a hefty fine for non-compliance.

“Overall, I would suggest that firms, from SMEs to large corporates, can benefit immensely from an ‘AI + human’ operation, with continuous training for all staff members to not only use AI in their daily tasks, but to recognise it when it is being used,” Maren concludes.

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