Post-recession, business lending is a challenging and competitive market, with SMEs often facing the toughest battle for finance. But that provides an opportunity for the payments businesses and FinTechs serving the SME market.
Banking Circle research commissioned earlier this year found that whilst 92.5% of SMEs have needed to access finance within the past five years, it was plain sailing for just 13.5%. Yet, without additional funding, many SMEs could face serious consequences. Nearly a quarter said they would have to let employees go.
What’s the answer? Banking Circle Lending gives financial institutions the facility to offer business customers access to better borrowing solutions, without having to spend in-house resources.
Following on from the launch of Banking Circle Lending at the start of the Summer, Banking Circle Receivables Factoring gives Payment Services Providers (PSPs) and FinTechs another value add. Offer merchant customers the facility of instant settlement of receivables due, without waiting for settlement cycles or invoice due dates.
With Banking Circle Receivables Factoring, a lending decision is made instantly, online, enabling the merchant to receive payment immediately. And once the merchant’s debt has been settled, repayment is made directly to Banking Circle, into a dedicated account in the name of the merchant.
This means the PSP can offer its merchants a seamless and streamlined service, without having to take any of the risk. The merchant also benefits from a confidential solution.
Click here to find out more about Banking Circle Receivables Factoring
Log in to access complimentary passes or discounts and access exclusive content as part of your membership. An auto-login link will be sent directly to your email.
We use an auto-login link to ensure optimum security for your members hub. Simply enter your professional work e-mail address into the input area and you’ll receive a link to directly access your account.
Instead of using passwords, we e-mail you a link to log in to the site. This allows us to automatically verify you and apply member benefits based on your e-mail domain name.
Please click the button below which relates to the issue you’re having.
Sometimes our e-mails end up in spam. Make sure to check your spam folder for e-mails from The Payments Association
Most modern e-mail clients now separate e-mails into different tabs. For example, Outlook has an “Other” tab, and Gmail has tabs for different types of e-mails, such as promotional.
For security reasons the link will expire after 60 minutes. Try submitting the login form again and wait a few seconds for the e-mail to arrive.
The link will only work one time – once it’s been clicked, the link won’t log you in again. Instead, you’ll need to go back to the login screen and generate a new link.
Make sure you’re clicking the link on the most recent e-mail that’s been sent to you. We recommend deleting the e-mail once you’ve clicked the link.
Some security systems will automatically click on links in e-mails to check for phishing, malware, viruses and other malicious threats. If these have been clicked, it won’t work when you try to click on the link.
For security reasons, e-mail address changes can only be complete by your Member Engagement Manager. Please contact the team directly for further help.
