Virgin Money teams up with Trade Ledger
Virgin Money is working with FinTech Trade Ledger on the development of its business banking offering, according to an announcement on Thursday, April 29.
Virgin Money Group Chief Commercial Officer Gavin Opperman said in the announcement that the customer experience is essential as the company prepares to market its business banking offering in the fall.
“Our FinTech partners allow us to create something completely new for businesses, and lending is a big part of the conversation,” Opperman said in the announcement.
Virgin Money’s collaboration with Trade Ledger allows it to provide a faster, more user-friendly experience for corporate clients looking for loans, according to the announcement.
Trade Ledger’s system analyzes information and digitizes a wide range of important lending processes. By leveraging Trade Ledger technology, Virgin Money will be able to provide faster and more efficient service to its customers while reducing risk, according to the announcement.
Trade Ledger UK Managing Director Roger Vincent said in the announcement that “the company’s technology has been specially designed to support banks and lenders looking to take the lead with innovation in lending and lending products. technology-based transformation ”.
Trade Ledger serves the business banking and financial services space, helping banks by allowing loan offerings to be developed and delivered at the right time and through the right channel. The company’s system comes with Loan as a Service (LaaS) functionality, which works with both unsecured and secured loans, to unleash all kinds of business loan and working capital offers for businesses that otherwise find it difficult to access funding, the ad said.
The news comes as PYMNTS reported that Virgin Money has partnered with Fluidly. The latter company joins other FinTechs such as Strands, Redspire, Waracle, Codat and Moments of life who also collaborated with the bank.
Fluidly provides a variety of invoice, financing, and outlook research tools, allowing businesses to view all parts of cash flow in one place.