Fintech credit and payments company joins proprietary, real-time lending platform Funding CloudTM
London, 14.06.2022: Leading fintech payments and credit company MarketFinance has partnered with Funding Options to join its real-time lending platform, Funding CloudTM. Funding CloudTM enables lenders to bridge the SME funding gap by providing businesses with the best finance options on the market, at speed and powered by technology.
MarketFinance has strengthened its finance origination capability by developing a Lending API to embed its products in Funding CloudTM. Through Funding CloudTM, SME customers will now have near-instant access to MarketFinance’s highly competitive term loan product, as well as being able to compare real-time quotes amongst the leading alternative lenders in the UK. This increased competition and emphasis on speed will drive improved customer outcomes at a critical time for UK SMEs who are managing rising costs amidst a volatile economic outlook.
Funding Options launched its award-winning Funding CloudTM platform in April 2021 and has now reached a record of 20 seconds from loan application to credit approval, with time from application to funds in the bank of just 18 minutes. As modern customers move towards multi-product ecosystems where they can get access to products and services in one place, embedded finance partnerships such as this one will enable financial services companies to increase their customer acquisition and drive new revenue streams.
Anil Stocker, CEO and co-founder of MarketFinance says, “As a leader in embedded payments and digital finance in the UK, we are excited to partner with Funding Options as we join their real-time lending platform. Speed and seamless access to finance is crucial to small businesses, particularly in the current economic climate. Embedding our lending products in the Funding Cloud will enable us to reach more customers, when they need us, and helps to drive our vision of frictionless finance.”
Simon Cureton, CEO of Funding Options comments, “Now more than ever, UK SMEs need fast and efficient access to the best funding options on the market as they battle higher costs and an uncertain economic outlook. At Funding Options we recognise the importance of technology in facilitating funding, through embedded finance and open banking, and this partnership enables us to add greater supply to our digital lending proposition. As significant demand returns to the alternative lending sector, it is those that embrace innovation to deliver a great customer experience who will thrive.”