Post by Steve Cocheo in Banking Exchange:
“Clients increasingly want the same convenience from their local providers that they can obtain from such players. Kabbage, for example, promises up to $150,000 in business credit in ten minutes. The bank hasn’t been able to measure the local impact of marketplace lender competition, but clearly customers want an experience like that offered by such players.”
New Technologies are changing the traditional loan system, new ways of credit assessment and funding source make this process faster and cheaper. High-efficient technology advancement helps the loan in SME sector as well. In Singapore, Fintech player Capital Match is offering convenient invoice financing option for SMEs to ease their financing option with advanced credit assessment, at the same time protecting investors with higher return from managed risk.