In The Press

Funding Xchange appoints advisors to strengthen its Credit-as-a-Service platform

UK-based Funding Xchange has announced the appointment of various advisors to its board in the light of its upcoming launch of Credit-as-a-Service proposition for banks and lenders. The newly formed advisory committee is expected to offer guidance and facilitate the delivery of the proposal to lenders. The advisory board comprises of Simon Featherstone, Philip George, John Allbrook and Paul Hewitt.

Katrin Herrling, CEO and co-founder of Funding Xchange, commented, “We are delighted to have brought together a wealth of talent from across the industry. It’s testament to the potential of the Credit-as-a-Service proposition to change the UK SME lending landscape benefiting both lenders and borrowers.” The advisory board will be supporting the positioning of the company’s new platform. The Credit-as-a-Service platform utilises Funding Xchange’s SME lending platform that helps clients in digitising, optimising and accelerating their SME solutions.

Simone Featherstone, previously MD of LBG Commercial Finance, Bibby Financial Services and Shawbrook Bank, commented, “Funding Xchange’s Credit-as-a-Service solution provides a triage solution for banks and lenders, helping them deal with the sales challenge of wading through hundreds of applications for the ‘right ones’.”

Philip George, recently the CEO of First National Bank and the co-founder of Shawbrook Bank added, “Funding Xchange, have identified a key opportunity in the market to improve the lending experience for both lenders and businesses. The Credit-as-a-Service propositions allow lenders to unlock the power of data, making it quicker for businesses to gain access to funds, but at lower operational costs to lenders.”

John Allbrook, previously, was the MD GE Capital European Equipment Finance, Chairman of Syscap and is currently Chairman of IGF. Paul Hewitt is a non-executive chairman and one of the co-founders of Kintell.

Funding Xchange has stated that, with the advisory board in place, it will be applying to BCR Pool E to further its proposition.

This article appeared on the IBS Intelligence website.

 

This article was published in IBS Intelligence 9th June 2020