Cloud-banking fintech Ohpen partners with ezbob to offer lending products to UK market

Ohpen, the primary fintech platform to deliver a financial institution to the cloud, as we speak declares its partnership with ezbob, a UK-based software program supplier for banks and monetary establishments.

The partnership is the following step in Ohpen’s enlargement into the UK market, which commenced final 12 months with the launch of an entire mortgage platform, and can leverage ezbob’s native market experience to present end-to-end SME lending products, in addition to persevering with to help shopper lending.

A current report from the Federation of Small Businesses exhibits that SME lending requires pressing consideration. It cites the most recent Bank of England figures that present how the annual progress fee of lending to SMEs is at a file low, however lending to large corporates has elevated considerably because the begin of the 12 months. This highlights the necessity for monetary establishments to have the option to offer lending products that meet the distinctive necessities of the UK’s small companies, of which there are over 5.5 million.

Ohpen’s cloud-native core banking engine helps this want, additional bolstered by ezbob’s intuitive onboarding and instant credit score decisioning experience for SME mortgage origination. Through this collaboration, monetary and non-financial establishments can deploy extremely configurable options, cost-effectively in as little as 90 days, together with ongoing mortgage servicing. This is considerably quicker than different choices, reminiscent of in-house growth.

The answer is packaged as a cutting-edge, AI based mostly SaaS deployment with pre-configured APIs for KYC, fraud, AML, bureau and open banking suppliers. This signifies that no buyer technical information or experience is required.

Jan-Lamber Voortman, Managing Director of Lending at Ohpen, commented: “It has been a core focus of Ohpen’s to ensure we offer UK financial institutions the full spectrum of lending products. With ezbob’s expertise in the origination of SME loans and our depth of experience in lifecycle management – from origination to servicing and arrears – we have created a powerhouse of a partnership. What’s more, having already worked on proof-of-concepts together, we know that our teams, skills and technology complement one another perfectly. I look forward to using our joint expertise to truly help UK banks and lenders better serve the growing SME market.”

“SME borrowers demand the same slick customer experience they are used to when ordering services from Netflix or Amazon. ezbob’s technology delivers a smart, intuitive onboarding and credit assessment journey with a decision in minutes. Integrated with Ohpen’s cloud-native servicing platform, cash can be dispatched same day, thus offering a highly valued customer service to small businesses,” added Marc Philippo, Vice President Sales at ezbob. “Partnering with Ohpen enhances our offering and allows us to cover all aspects of the loan cycle; achieving this truly fully integrated service is unique in the market. We’re excited to provide better servicing for financial institutions and their SME customers and to tap into the potential of supporting non-financial firms wishing to embed financial services into customer offering.”