Banks & Fintechs need each other

The first bank to partner with a fintech could dominate  SME lending

In 5 years time, Fintechs will dominate the market for unsecured small business loans up to $250k. There are thousands of credit worthy SMEs who are more than capable of servicing and repaying a loan of up to $250k but they can’t get the funding from the banks because of lack of security. This is the market where fintechs play. Collaboration between banks and fintechs will produce a better outcome for both these parties more more importantly for SMEs. This will happen and probably sooner rather than later but which banks will lead the way? Only time will tell.

In this article in BRW we explain the reasoning for making what appears to be a big call.

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