The Intermediary – January 2026 - Flipbook - Page 39
SPECIALIST FINANCE
Opinion
Intermediaries
are central to SME
lending strategy
W
hen HSBC UK
re-entered
the broker
market in
2022, it became
clear how
the landscape had changed and how
brokers now play a central role for
many small to medium enterprises
(SMEs) accessing finance.
More than 20 years ago, when I
first worked closely with brokers, the
market was very different. This shi
has been one of the most important
learnings for us as a bank over the
last three years. For many businesses
brokers are now the first port of call.
The quality of propositions coming
through intermediaries is now on
par with what we see directly, and
in some cases the credit quality is
stronger. SMEs are beer advised,
beer prepared and clearer about what
they need which allows for a positive
experience for clients, brokers, and
lenders alike.
Our initial approach was
deliberately measured, to ensure
the relationship with brokers was
developed in the most effective way.
Following an initial 18-month pilot
with term lending products, we
broadened our offering to include,
trade, invoice finance, and asset
finance with a focus on SME and midcorporate businesses.
What followed has exceeded our
expectations. In 2023, around £60m
of the bank’s lending came through
intermediaries, rising to £0.25bn in
2024. In 2025, we surpassed £500m.
But this growth isn’t accidental,
it reflects sustained investment in
people, technology and relationships
from HSBC UK. We now have 14
dedicated business development
managers (BDMs) covering the
intermediary market, who are
supported by a wider network of
relationship managers and directors
across the bank.
For brokers, that means complete
simplicity with one point of contact
who can bring the full capabilities of
HSBC UK to the table.
It’s important also to consider
scale, and why it maers here. With
hundreds of relationship managers
and sector expertise supporting them,
our BDMs are not selling individual
products. Their role is to present a
one-stop-shop, helping brokers and
their clients determine how different
parts of the bank fit together, from
lending and cash management
through to specialist sectoral support.
Our focus on brand and clarity
has been equally important. We
recognised the need for brokers to
understand what a lender stands for,
and where it is competitive. For us,
that meant being clear on ‘why HSBC’.
The answer? We can combine
local decision-making for UK SMEs
with the strength, experience and
international reach of a global bank.
Yet, challenges do still present
themselves. We’re conscious that some
IAN COULSON
is head of commercial brokers
at HSBC UK
SMEs and intermediaries still see a
disconnect between global banking
and domestic SME lending. Our
continued focus is on aligning the
two, ensuring local and global work
in parallel, and providing a banking
option that remains relevant to earlystage and mid-market businesses,
while also continuing to support
clients with international ambitions.
Looking ahead, growth is the
continued ambition for us. Working
with more brokers, widening the net
and building long-term relationships
that go beyond individual transactions
will support our aim of being
the leading high street lender for
intermediaries by 2028.
For this growth to continue, brokers
remain a central part of the journey.
They bring insight, reach, and trusted
relationships with SMEs across the
UK. For banks that want to support
growth, intermediaries are no longer
options, they are essential. ●
Putting the building blocks of SME growth into safe hands
January 2026 | The Intermediary
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