The leading UK adviser-led funding platform, Capitalise.com, has created an Instant Offers Marketplace launching first with high street bank Barclays and small business lender iwoca
What does this mean for me and my clients?
For a long time, consumer finance providers have been able to offer products instantly to consumers. However, the technology for business owners to be offered the same choice with speed has lagged. Now, using open APIs, the Capitalise.com platform has brought speed and transparency to the UK business lending market. The platform has always allowed accountants to compare thousands of business lending products in seconds. Using data collected directly from Sage Business Cloud and QuickBooks, the platform assesses the financial health of a company cross-checking this against lender criteria to provide lenders who are likely to lend. Today, this shortlist of lending solutions also includes instant offers from Barclays and iwoca with many to follow soon
Why is this important?
Since the GFC there has been an explosion of SME business lenders, all carving out a niche in the market. While, on the one hand, this is great news for business owners, it also leads to the paradox of choice. Faced with cash flow issues, business owners spend just one hour searching through over 360 UK providers, 80% then approach only one lender and, as a result, often end up paying over the odds for an inappropriate funding fix. This problem is heightened by the lack of support in the market; 15,000 bank branches have closed, removing an estimated 50,000 bank managers from our local communities. So while a business owner was previously able to seek advice from their local bank manager, they now must navigate the financial marketplace alone. This gap in guidance and the absence of high street bank branches across the UK has created the opportunity for accountants to step in as the access point to financial services. Accountants are financially literate, regulated and relationshiporiented. Working with Capitalise.com and their team of funding specialists, accountants can offer a range of best-of-breed lending solutions. With speed never seen before.
Accountants are the bank manager 2.0
Accountants will now be able to receive instant, real-time offers on funding applications for their clients from a range of best of breed financial providers. This means the humble accountant can provide a superior service to the traditional bank managers, transitioning them into the bank manager 2.0. A win for accountants who choose to support clients with funding. Being able to offer this service directly to clients, without bringing in a third party, means accountants can be fully involved with their clients’ business journey and creates future accounting service opportunities
Be the Bank Manager 2.0 and support your clients with Capitalise.com. Book in a demo, or sign up here