British banker Metro Bank announced Monday, March 9, that it has entered into a partnership with Lending-as-a-Service (LaaS) provider Ezbob to deliver next-generation digital lending platform for small business customers.
In a release, Metro Bank said that the new offering will aid the company in “delivering a seamless, end-to-end small business lending process” that will enable SMEs to apply for business finance online. As part of its features, customers will be taken from application through ID&V documentation, offer, and acceptance, enabling them to avail immediate funding on the same date of their application.
“We know quick, reliable access to finance is crucial for small businesses to seize opportunities to grow. By teaming up with ezbob, we’ll be able to help our customers secure the finance they need in a matter of minutes, giving them the edge in today’s competitive market,” said Paul Riseborough, Chief Commercial Officer at Metro Bank.
Launched in 2010, Metro Bank serves as the first new high street bank in more than a century. Among its services include personal, commercial, business, and private banking offers.
The latest partnership makes ezbob the latest addition to the list of companies that Metrobank has collaborated with, which include Funding Options, Conance, and DueDil.
“We are very proud to be able to provide Metro Bank, one of the UK’s most forward-thinking banks, with an automated SME lending solution that will cover the entire lending journey, including all aspects of compliance, risk, and decision-making. We see this as a long-term partnership and look forward to working with Metro Bank to ultimately deliver an outstanding, multi-product experience to their customers using ezbob’s market-leading solution,” commented Tomer Guriel, Founder and CEO at ezbob.
The new digital lending platform is set to launch for Metro Bank customers in mid-2020.