Small and Medium-sized Enterprises (SMEs) often face an uphill battle when it comes to access to next-generation technologies and infrastructure that can bolster their capabilities to grow revenue, scale operations and handle multiple payments at once.
3S Money is aiming to streamline this. Its Founder and CEO, Ivan Zhiznevsky, spoke to Payment Expert on how it is looking to make international trade more seamless for SMEs, how to manage multi-currency payment issues, and how they can stand to take a cut of a $48trn market.
Payment Expert: Firstly Ivan, could you tell us about the process of being a Barclays Rise alumni and how it helped shape 3SMoney to what it is today?
Ivan Zhiznevsky: After experiencing business banking frustration first-hand, we launched 3S Money in 2018 to redefine the financial landscape for all entrepreneurs.
We’ve gone from one chair in Barclays Rise to a team of over 200 professionals across seven global offices, including London, Amsterdam, Luxembourg, Riga, Dubai, Singapore, and Hong Kong. Barclays Rise provided fantastic networking opportunities and resources, allowing us to expand rapidly.
PE: With a core focus on SMEs, what are some of the most glaring issues regarding how small businesses conduct trade internationally?
IZ: In today’s economy, every business, whatever its size, is operating on tighter margins, none more so than SMEs. They face complex regulations, passport discrimination and limited access to essential payment services. In every jurisdiction, traditional banks often fail to understand the support non-resident SMEs business owners need to scale their operations.
While international transfers are increasing yearly, 40% of SMEs still only process local transactions due to the costs, challenges, and complexities of managing cross-border payments.
Current international transfers can take up to five days and cost more than ten times the price of domestic ones. High foreign exchange fees, fraud risks, and a lack of transparency in B2B cross-border payments create further barriers.
3S Money provides companies access to 65+ local currency wallets, including USD, GBP, EUR, and AED, global IBAN accounts, dedicated client support in 10+ languages and payment solutions in 190+ countries.
PE: Could you explain why SMEs stand to make a greater share of the $48trn generated by the B2B SME market?
IZ: As global markets become increasingly interconnected, SMEs have more opportunities than ever to expand their reach. However, scaling a business requires more than ambition – it requires access to relevant payment, currency exchange, and account management technology.
With 85% of SMEs recognising technology adoption as key to long-term growth, where do they go to find these services at a cost and implementation level that matches their growth stage? It’s certainly not a traditional payment provider.
EMIs, challenger/neo banks, and fintech innovators are transforming the global financial ecosystem by providing real-world solutions for today’s and tomorrow’s payment problems.
The alternative banking market is projected to reach $722bn by 2028, highlighting the shift towards technology-driven financial services powered by people.
PE: Has there been an increased focus from SMEs on integrating technologies that automate processes like invoices, inventory management, etc., in order to eliminate long drawnout manual processes?
IZ: Absolutely. SMEs increasingly use automation to streamline invoicing, inventory management, and payments. Eliminating manual processes reduces errors, saves time, and allows businesses to focus on growth rather than administrative tasks.
With the advancements of accessible API connections, Open Banking, batch payments, and treasury management platforms, business owners can handle reconciliation, accounting, payroll, and customer payments from their phones anywhere in the world.
PE: How difficult is it for small businesses to manage multiple currencies and currency conversion during payments? How can this be resolved?
IZ: A multi-currency account with fair FX rates and local IBANs can ease the stress of global transactions, making it easier and more cost-effective to do business across borders. But having the right tools is only part of the solution – real support makes all the difference.
That’s why at 3S Money, every client account is partnered with a dedicated Relationship Manager. Whether it’s navigating new markets, optimising payments, or managing risk, our experts provide hands-on support tailored to your business. With fast, hassle-free international transactions and personalised service, we confidently help SMEs trade globally.
PE: What are some of the key barriers from SMEs adopting cross-border payment services and how can financial institutions, both traditional banks and fintechs, support this?
IZ: SMEs often face challenges in accessing cross-border payment services, including high fees, slow processing times, and complicated compliance requirements. In 2025, traditional financial institutions will typically rely on AI-driven decisions to streamline processes, which can overlook the unique needs of smaller, complex businesses.
Our team takes a human-led approach to decision-making. While we leverage technology to speed up the application process, all our decisions are made by real people, ensuring a more personalised experience for our clients. We provide the payment technology and multi-currency solutions SMEs need to expand globally, with the added benefit of human-led onboarding, compliance support and application management.
Our model works alongside traditional banking structures, allowing banks to tap into customer flows they might otherwise struggle to serve.
PE: Lastly, and thank you for your time Ivan, how are 3SMoney looking to generate future financial inclusion for SMEs?
IZ: At 3S Money, we believe that creating a fairer and more accessible financial world is key to empowering business owners globally. By integrating advanced technology with a human touch, we provide the tools every company needs to securely send, receive, and exchange funds across borders.
Financial inclusion is at the heart of everything we do, and we’re specialists in working with businesses with complex structures and non-resident directors and shareholders. I started a business and was denied access to financial services due to the colour of my passport, so I understand firsthand the challenges we, as a payment community, need to overcome.
Our International Business Accounts enable SMEs to seamlessly send and receive high-value transfers in over 65 currencies, including USD, EUR, GBP, and AED, with fair FX rates, local IBANs, and no transaction limits. We go beyond basic financial services by offering human support to empower people to manage their money on their terms.
