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How Can Banks Bring Business Credit and Lending Services into the 21st Century?

January 2, 2020

Via: Finextra

The history of credit and lending to business customers dates right back to Mesopotamia when the very first payday loans were used by farmers and the code of Hammurabi defined how the interest charged on silver loans was to be regulated.

In more recent times, technologies including online lending have been as transformative as those first laws stamped on clay tablets. Yet, despite everything, the processes behind credit and lending services are far from perfect.

In a recent survey of 340 UK businesses who use credit and lending services, when asked what the key improvements should be made, they cited speedy decision making, mobile and online support, and transparent risk management.

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