82% Indians bear financial brunt of COVID-19: IndiaLends survey
A recent survey by IndiaLends, a digital lending platform, has revealed that the pandemic has severely affected the financial health of salaried and professional individuals with 82% of respondents saying they are struggling to make ends meet.
SalaryDost selects Onfido to power digital lending with trusted identity verification
- 4 years 11 months ago
- Lending, Authentication Technology
Onfido, the global identity verification and authentication company, has announced a partnership with SalaryDost, a leading digital consumer lending platform in India, to provide identity verification with real-time live video checks to verify users and for a robust Know Your Customer (KYC) solution.
British Business Bank accredits Metro Bank to the Bounce Back Loan Scheme
Today the British Business Bank has announced that it has approved a new lender for accreditation to the Bounce Back Loan Scheme for small business across the UK. The scheme is intended to target small and micro businesses in all sectors[1], with loans from £2k up to 25% of the business’ turnover with a maximum loan of £50k.
Quarter of merchants were borrowing funds to pay business costs or salaries - even before COVID-19
- 4 years 11 months ago
- Covid-19, Lending, Online Trading
Europe-wide research commissioned by innovative financial infrastructure provider Banking Circle has found that nearly two thirds (64.6%) of online merchants have needed extra finance in the past two years (excluding borrowing due to the current COVID-19 crisis).
British Business Bank approves four new lenders for accreditation under the CBILS
Today the British Business Bank has announced that it has approved four new lenders for accreditation under the Coronavirus Business Interruption Loan Scheme (CBILS). New lenders The FSE Group, FW Capital, Mercia Asset Management and Whiterock Finance will be able to provide financial support to smaller businesses in the Northern Powerhouse and Midlands Engine regions, as well as Northern Ireland, that are losing revenue and seeing their... more
Finastra announces Fusion Credit Connect solution on Salesforce AppExchange and FusionFabric.cloud
Finastra today announced the launch of its Fusion Credit Connect solution on Salesforce AppExchange and Finastra’s FusionFabric.cloud, re-envisioning how relationship managers and borrowers connect and communicate from opportunity to origination, through to closing and booking. Corporate lending end users benefit from a better customer experience across the whole process of securing and drawing down a loan.
Wolters Kluwer Continues PPP Educational Series With Loan Forgiveness Webinar
- 4 years 11 months ago
- Covid-19, Lending, Security and Compliance, Risk Management
Wolters Kluwer Compliance Solutions is continuing to prove its industry leadership, through its ongoing customer educational series designed to help the market navigate the complexities of the U.S. Paycheck Protection Program.
Six new lenders accredited to British Business Bank Coronavirus Business Interruption Loan Scheme (CBILS)
Today the British Business Bank has announced that it has approved six new lenders for accreditation under the Coronavirus Business Interruption Loan Scheme (CBILS).
iwoca approved for accreditation under Coronavirus Business Interruption Loan Scheme (CBILS)
iwoca, one of Europe’s largest small business lenders, has today been approved for accreditation by the British Business Bank under the Coronavirus Business Interruption Loan Scheme (CBILS). Existing customers affected by COVID-19 will be able to apply this week, followed gradually by new customers.
Wolters Kluwer develops TSoftPlus Technology for loan forgiveness stage of U.S. Paycheck Protection Program
- 4 years 11 months ago
- Covid-19, Lending, Security and Compliance, Risk Management
Wolters Kluwer Compliance Solutions is set to help local lenders and their small business client recipients of Paycheck Protection Program (PPP) funding facilitate online loan forgiveness applications through its TSoftPlus™ PPP Forgiveness Module.
Mortgage Brain’s Lendex Submission System progressing to plan
- 4 years 11 months ago
- Lending
The pilot of Lendex, Mortgage Brain’s new multi-lender submission and application gateway, is off to a tremendous start. Coventry Building Society, NatWest and Platform are all available through the Lendex pilot, with a further two lenders expected to be live in the near future. Collectively they represent around 32% of mortgages sold in the UK. Letters of Intent have also been signed by a number of other lenders, including Lloyds Banking Group... more
New lenders accredited to British Business Bank Coronavirus Business Loan Schemes
Today the British Business Bank has announced that it has approved two new lenders for accreditation to offer Covid-19 business loans to small businesses across the UK. Tide will join the other 16 lenders who have been accredited to the Bounce Back Loan Scheme (BBLS), since the scheme opened last week. Alternative finance lender Liberis has also been approved for accreditation by the British Business Bank under the Coronavirus Business... more
Finastra helps banks and credit unions provide critical financial support to small businesses under the PPP
Finastra, one of the world’s largest financial technology solutions providers, announced today that it has helped process more than 86,000 Paycheck Protection Program (PPP) loans to date, supporting community-focused banks and credit unions as they provide critical financial assistance for small businesses impacted by the Covid-19 pandemic. Finastra’s CARES Act
British Business Bank announces new lenders under the bounce back loan scheme for smaller businesses
Today the British Business Bank has announced that it has approved three new lenders for accreditation under the Bounce Bank Loan Scheme. The scheme is intended to target small and micro businesses in all sectors, with loans from £2k up to 25% of the business’ turnover with a maximum loan of £50k.
Ebury to support UK SMEs during Covid-19
Ebury, the global transaction platform, has been approved as an Accredited Lender on the British Business Bank's (BBB) Coronavirus Business Interruption Loan Scheme (CBILS), enabling it to support UK SMEs with government-backed loans through this difficult time. Ebury provides specialist loans to SME companies that trade internationally and, in April, the UK-headquartered fintech was approved for similar schemes by the Dutch, Spanish and Italian... more
