Small companies struggle to get financing
Banks are reluctant to lend to small businesses. They ask for guarantees, collateral. Many papers… The process is slow and bureaucratic.
And if they were able to easily get funding through someone who knows them well?
Businesses are more and more using online platforms or services for their activity: eCommerce platforms, accounting-as-a-service, …
Embedded finance is the idea of providing easy and online access to businesses right on these online platforms.
How it works
The behavioral data of the businesses is used by smart credit scoring models to provide a pre-approved credit limit available in the dashboard or panel of the user.
He can then decide to utilize it and get a business loan in a few clicks.
Use case with an eCommerce platform
An eCommerce platform hosting thousands of online shops wants to provide easy access to loans to its merchants.
Win-win for all!
Merchants get easy and fast access to credit at fair conditions.
The eCommerce platform enhances its client retention and generates additional revenue via commission from lenders.
Lenders open a new credit business opportunity.
Where does embedded finance fit well?
On almost every platform having relevant data from the usage of their business customers.
About FinBiz Technologies
FinBiz Technologies was founded in 2023 by a team of banking and FinTech professionals.
FinBiz Technologies is backed by New Vision 3 and group of high-profile individual investors
Contact:
Sergey Panteleev
0894515350
sergey@finbiztech.eu
LinkedIn : https://www.linkedin.com/in/sergey-panteleev-8344971a/