NatWest has announced a partnership with pre-paid company card provider Soldo.
The bank said the deal will enable two of its digital ventures, Esme Loans and Rapid Cash, to directly reach Soldo’s business customers as NatWest looks to boost SME lending in 2020.
Soldo offers pre-paid services for business expenses across Mastercard, mobile app and online. Its platform automates expense reporting while giving businesses control over how and where employees and departments can spend company money.
Through the new partnership, Soldo users will be able to apply for business loans of up to £250,000 via Esme Loans; or choose to borrow up to £500,000 as a flexible line of credit against unpaid invoices via Rapid Cash.
Andy Ellis, head of NatWest Ventures said: “As one of the UK’s biggest banks for SMEs, we’re extremely keen to work with anyone that offers a unique, simple experience that makes it easier for our customers to run and grow their business. Soldo is a partner who do exactly that, whilst sharing our passion to do things differently for UK SMEs. We’re thrilled to be working with them.”
The announcement marks the latest in a string of recent partnerships the bank has struck with tech providers to broaden its digital offering.
Last year, the lender teamed up with Microsoft, Amazon and IBM as it continued to invest in customer-focussed technology.
Latest News
-
BBVA to roll out genAI tools for 100,000 employees in partnership with Google
-
Qonto applies for banking license in France
-
FCA expands bullying and harassment rules beyond banks to 37,000 firms
-
Zopa opens Manchester office with plans for 500 jobs
-
Government plans new tools to help FinTechs navigate complex regulation
-
Paxos launches dollar stablecoin in the EU
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Transforming document management into a strategic advantage for financial institutions
In this exclusive fireside chat, John Rockliffe, Pre-Sales Manager at d.velop, discusses the findings of Adapting to a Digital-Native World: Financial Services Document Management Beyond 2025 and explores how FSIs can turn document workflows into a competitive advantage.
Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories