NatWest to launch speedy SME digital #LendingPlatform

NatWest is launching a new digital platform to accelerate the lending process for small and medium enterprises (SMEs).

The new platform, codenamed Esme, has been designed to give fast decision to customers about their loan application. The loans can be obtained, potentially within an hour, if the application is approved. The bank also stated that customers can benefit from no early repayment charges.

According to the bank, the scheme took shape as a means to simplify and speed up lending process and has been developed in response to direct and P2P lending platforms.

The lending platform also offers a maximum period of five years to repay the loan amount. This new loan scheme can be availed by UK SME customers who may or may not have an account with NatWest.

The new scheme is said to have taken birth at the bank’s ’innovation cell’, working with Fintech Ezbob. It has been developed in response to the emergence of innovative direct and P2P lending platforms, with aim to simplify and speed up lending process.

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