Credit, Collections & Insolvency News
Small business lender, iwoca has launched a cash advance product on Funding Xchange for small business online sellers. iwoca will be the first lender in the use Open Banking to offer fully automated revenue-based repayments to e-commerce businesses with a business bank account on the marketplace. Small business owners operating on platforms such as eBay…
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A new start-up fintech launched by a former credit industry professional aims to get businesses paid within seven days, in an attempt to address late payments. Debt Register has developed a purpose-built digital platform to resolve debts anything up to 10 times faster than traditional legal action, and for a fraction of the cost. Two…
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Lenders could see the time they spend processing the average loan reduce by more than 85% with the adoption of Open Banking technology, according to research from Yolt Technology Services. The company says at present, lenders process an average of 6,258 loans a year, with each single loan taking 3.5 hours for the business to…
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