ezbob, an established technology provider that powers the digital SME lending for Tier 1 financial institutions has today announced that it has been awarded £2.5m as part of the BCR’s (Banking Competition Remedies) £20m Pool E grant which it applied for in July.
Tomer Guriel, Founder and CEO at ezbob, said: “We are excited to have been awarded the BCR Pool E funds which will allow us to democratize our technology making it more widely available to smaller financial institutions. The problem faced by these institutions is their inability to access advanced technology due to the significant investment required. Through the BCR funds, we will reduce the investment barrier allowing smaller financial institutions to benefit from our smart onboarding technology. Post Covid-19 the digitisation of lending is now essential to service the needs of SMEs. There is no better company able to provide it than ezbob with its experience and track record.”
ezbob’s technological solution enables financial institutions to become digital champions in weeks. Using our cloud-based technology, financial institutions can onboard a SME applicant via a 100% digital process eliminating the need for paperwork.
ezbob’s pioneering technology includes API connectivity to over 40 data services including KYC, AML, Fraud, Open Banking and Credit Bureaus. This reduces the time it takes an applicant to complete a loan application to minutes.