Huge Group is considering partnerships with banks so that it can offer financial services products to its customer base of nearly 50,000 small and medium-sized enterprises (SMEs). “We’re looking at disruptive service offerings that provide a solution to a community that previously did not have access to it,” Huge’s nonexecutive chairman, Duarte da Silva, told Business Day on Monday. Through its Huge Connect business, the group provides connectivity for payment platforms. “We’re not a payments provider, but to get more involved there makes sense. “The second thing is if we look at teaming up with a financial institution, we can target bespoke solutions for the SME community, rather than thinking of end-to-end banking,” Da Silva, a former Merrill Lynch analyst, said. The group would consider products that gave SMEs access to the financial services industry and reduced banking costs for that segment of the market. “We’d probably do this in partnership because we’re not a financial inst...
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