back Back

MarketFinance forms a strategic partnership with Funding Options

By Joy Dumasia

June 14, 2022

  • Digital Lending
  • Digital Loan
  • Europe
Share

MarketFinance has partnered with Funding Options to join its real-time lending platform, Funding Cloud. Funding Cloud 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 Cloud. Through Funding Cloud, SME customers will now have near-instant access to MarketFinance’s highly competitive term loan product and be 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 the UK SMEs managing rising costs amidst a volatile economic outlook.

Funding Options launched its award-winning Funding Cloud 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 access products and services in one place, embedded finance partnerships such as this will enable financial services companies to increase their customer acquisition and drive new revenue streams.

Anil Stocker, CEO and Co-Founder of MarketFinance, said: “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, commented: “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.”

Recently, IBS Intelligence reported that MarketFinance, the leading FinTech credit and payments company, announced a debt raise from Deutsche Bank, which the company will use to part-fund up to £100 million of lending to support strong, well-managed SME businesses with their investment and working capital needs.

Previous Article

June 14, 2022

LHV UK launches Confirmation of Payee to help tackle APP fraud

Read More
Next Article

June 14, 2022

Sendcloud and Mollie join forces to simplify paid returns

Read More






IBSi Daily News Analysis

UK, Bank

July 12, 2024

Digital Lending

Global securities lending revenue sees sharp 16% decline to $2.53bn in Q2 2024, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 12, 2024

Fair4All Finance and ClearScore partner on debt consolidation technology

Read More

July 10, 2024

Islamic FinTech Offa launches buy-to-let finance service

Read More

July 09, 2024

Uncia wins Best in Retail Lending & enters the IBSi’s Sales League Table 2024

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
Wealth Management & Private Banking Systems Report Q2 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024