Trade Ledger, the world’s first corporate open banking lending platform, has joined Innovate Finance, the independent membership association representing the United Kingdom’s FinTech sector. The announcement comes as stronger ties are established between Australia and UK following the establishment of the UK-Australia FinTech Bridge in March 2018 and just months after Trade Ledger opened their European HQ in London.
The Australian FinTech Bridge which was signed by the UK Chancellor of the Exchequer and the Australian Treasurer was set to enable greater collaboration between the two countries and encourage FinTech firms to explore opportunities and assistance in other jurisdictions.
Innovate Finance was founded in 2014 with more than 250 global members having joined to date, ranging from seed stage startups to global financial institutions and professional services firms.
Speaking on the announcement, Roger Vincent, Chief Innovation Officer said: “Trade Ledgers aspiration is to redefine the way that SME’s access credit. Working with Innovate Finance, we can accelerate our goal of achieving this by focussing our attention on some of the major industry barriers that currently exist for these businesses such data access, data portability and the overall awareness of the changing credit landscape for SMEs.
“For UK business trying to access credit, success can sometimes mean the difference between survival or failure, but we want to be able to change this. Joining Innovate Finance means we can sit alongside like-minded members and work towards advancing the UK’s financial technology sector for the greater good of the entire UK economy – delivering a personalised, transparent and beautiful customer experience for every business seeking working or growth capital.
“Regulatory changes like GDPR, Open Banking & PSD2 are placing the UK at the forefront of a global revolution and Trade Ledger are one of only a few specialist software companies looking to exploit these new data access models on a global scale alongside advancements in artificial intelligence, robotic automation and distributed ledger technology”
Founded in 2016, Trade Ledger utilises its Lending-as-a-Service platform for the corporate banking sector. The platform is designed to help banks and financial services organisations more efficiently and quickly assess SME’s (mainly mid-market businesses) for lending products in a fully data led, digitised and engaging customer experience.