Tomer Guriel, CEO, ezbob

Lending as a Service (LaaS) solution provider, ezbob, has collaborated with business funding referral platform, Funding Xchange to provide SMEs with access to suitable funding options through an integrated marketplace solution.

According to the supplier, ezbob and Funding Xchange’s integration will allow for the delivery of enhanced customer experience and transparency in the terms available to the SMEs. The partnership is expected to assist Funding Xchange’s customers in their application procedure as confirmation of their eligibility and personalised terms will be provided to them without the need of applying to ezbob’s lending partners. The integration aims to ensure consumer privacy as well as provide business owners with the option to choose their choice of lenders, thereby enabling them to compare personalised items.

Katrin Herrling, Chief Executive Officer, Funding Xchange, said: “The lending landscape is changing, impacted by regulatory reform, open banking and fintech innovation. We are joining forces with ezbob to help further transform SME lending in the same way that consumer lending was transformed 15 years ago – giving small business owners certainty about available terms and instant access to funding.”

Founded in 2014, Funding Xchange aims to bring transparency and efficiency to small business lending. It refers small businesses declined credit by their bank to other sources of funding. It focuses on bringing about efficiency in SME lending distribution by holding lenders’ underwriting models and integrating with their decisions. Funding Xchange accurately mirrors lenders’ decisions based on their credit policies, affordability models and risk pricing.

Tomer Guriel, Chief Executive Officer, ezbob, added: “This is an exciting new partnership which will make lending available to many more SMEs by radically reducing the cost of serving smaller businesses by allowing them to self-serve. Our integrated marketplace solution creates funding opportunities for businesses previously let down by traditional products.”

Established in 2011, ezbob offers an end-to-end lending solution in the lending-as-a-service sector.

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by Megha Bhattacharya
Market Analyst at IBS Intelligence
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