Trade Ledger, a global tech provider for the financial services industry, has announced that Bibby Financial Services (BFS) has adopted its origination platform.

Trade Ledger’s Lending-as-a-Service platform allows funders to deploy business finance using cloud-native technologies, open banking APIs, and advanced analytics, the company said in a statement.

The platform, which was implemented in 12 weeks, will provide a digital self-service onboarding and application journey directly from the BFS website with prospects able to view and manage applications in a single portal. 

The platform will connect directly to a business’s accounting systems and to a range of third-party data sources to provide the most comprehensive view of financial health and credit eligibility, the statement said. 

Martin McCann, chief executive and co-founder of Trade Ledger, said: “We are delighted to be working with the team at Bibby Financial Services helping them to drive automation throughout their customer onboarding processes. 

“As a global enterprise software provider, the large-scale complex lending operation of Bibby Financial Service is an ideal candidate for technology-led, data-driven lending transformation. 

“We are projecting significant cost efficiencies in operations and revenue growth due to enhanced customer experience.”

Edward Winterton, UK chief executive of BFS, said: “Customer experience is at the heart of what we do and we are continually looking for ways to enhance the way SMEs interact and transact with us online. 

“Our partnership with Trade Ledger reflects this continuous improvement, enabling SMEs searching for finance to quickly and easily apply for the funding they need.”