Sales League Table 2020 | Banking Technology Winners

Results Announced!

IBS Intelligence launches BankTech Daily News

Subscribe today. Limited time offer.

The Black Swan Opportunity | Get your bank digital ready.

IBSI Special 5 Digital Report Package with Special Offer. Subscribe now

India FinTech Report 2020

Insights into the historical and projected market size of key FinTech categories. Subscribe now

Q2 Cloud Lending helps GetCapital accelerate loans to SMEs affected by COVID-19

Q2, Q2ebanking, cloud, FinTechNorth Sydney-based GetCapital, a non-bank lender, has adapted Q2’s suite of working capital products in 2 weeks. The solutions by Austin-based Q2, a provider of digital transformation solutions for banking and lending, is expected to accelerate application acceptance and funding to small and medium enterprises under the Australian Coronavirus Small and Medium Enterprises (SME) Guarantee Scheme.

The solution is provided via Q2 Cloud Lending, Q2’s integrated, cloud-based lending platform. Due to the urgency of getting financial support into the hands of SMEs, the solution is focused on streamlining and digitising the loan process. It can be set up and running within a week. The solution is designed to meet the expectations of the mobile-first borrower. It is built natively on the platform.

“We are thankful the Treasury operationalised the Scheme very quickly,” said Jamie Osborn, CEO, GetCapital. “A key challenge for businesses is getting access to finance to help with the liquidity they need to see them through to the other side of this crisis.”

The Coronavirus SME Guarantee Scheme will support up to $40 billion of lending and guarantee 50 per cent of new loans issued by eligible lenders to SMEs. The initiative will enhance lenders’ willingness and ability to provide credit, supporting many otherwise viable SMEs to access vital additional funding to get through the impact of Coronavirus. The Scheme will be available for new loans made by participating lenders until September 30, 2020.

“SMEs have been some of the hardest hit in this crisis, and using technology to help deliver aid and reduce their pain during this moment is critical. We are committed to working with organisations like GetCapital to help them serve those who need them most right now,” said Chris Boas, managing director of Q2 Cloud Lending in Australia.

“Q2 Cloud Lending provided great support,” said Eldar Averdi, CTO, GetCapital. “The flexible, cloud-based platform enabled us to deliver a solution in a very short period of time with features such as 6-month payment deferral.”

Related IBS Intelligence Research

Related Posts


OpenPayd releases crypto banking and payments service

API-led Banking-as-a-Service provider, OpenPayd has released its banking and payments solution for digital currency businesses. The service is expected to provide cryptocurrency businesses with access to a range of banking and payment networks. According to OpenPayd, the platform will offer crypto businesses with access to crypto-friendly banking, simplified cryptocurrency purchase, fiat and digital currency exchange […]

This post is only available to members.

Read More »

Adyen expands acquiring capabilities to Malaysia

Adyen, an Amsterdam-based global payments platform, announced the expansion of its acquiring capabilities to include Malaysia. The company has launched its acquiring solution in Malaysia to help local businesses achieve higher authorization rates, better customer experience, and deeper data insights as the Malaysian market transitions to online payments. “Rolling out our acquiring solution in Malaysia demonstrates […]

This post is only available to members.

Read More »

AeroPay unveils compliant digital payments for Legal Cannabis businesses

AeroPay, a disruptive FinTech reimagining the way money is moved in exchange for goods and services, has announced the launch of a suite of compliant digital payments solutions for state-legal cannabis businesses throughout the United States. AeroPay serves businesses in various industries ranging from nonprofits to restaurants and retail to e-commerce sites. The suite of […]

This post is only available to members.

Read More »
FlexiGroup Limited, FXL, Australia

flexigroup appoints forme NAB executive Jason Murray as its CFO

Sydney-based FlexiGroup (flexigroup) announced today the appointment of Jason Murray as its Chief Financial Officer, commencing on July 9, 2020, replacing outgoing CFO Ross Aucutt. flexigroup is a diversified full-service payments company with offerings in ‘Buy Now, Pay Later’, revolving credit and SME finance. Serving a broad footprint of millennial spenders, young families and small […]

This post is only available to members.

Read More »

Research shows 37% of Brits unprepared for economic downturn

YouGov’s research has revealed that the COVID-19 pandemic has left 37% of Brits or 19.4 million people unsure and unprepared for an economic downturn. It showed that 49% of the population that falls within the Gen-Z age group and 49% of Millenials are least likely to be prepared for a potential downturn as compared to […]

This post is only available to members.

Read More »