HSBC Partners Alt Lender Fintech to Better Serve to SMBS

22 de Noviembre, 2018

Tiempo estimado de lectura: 1 minuto

Biz4Credit connects small businesses with lenders on its platform to streamline the financing process for those companies.

The new initiative, dubbed HSBC eCredit, is currently available by invitation in selected areas, and will fully launch countrywide at the end of the year in English, with a French version following in January 2019. HSBC eCredit allows small businesses to apply for credit online within five minutes, and decisions are made in as little as 24 hours. This isn’t the only partnership we have seen between alt lenders and banks, with MarketInvoice and Barclays striking a partnership to help small- and medium sized businesses (SMBs) earlier this year. SMBs are still largely underserved by incumbents, but, with the help of fintechs, many are tailoring their services more toward this group of companies. We expect to see many more such partnerships emerge in the future, as incumbents finally look to effectively address this segment.

Fuente: Business Insider

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