Ezbob Makes Waves as a Leading Digital Enabler for Banks

USA - English

• USA - English

LONDON, Sept. 4, 2019 /PRNewswire-PRWeb/ -- The fintech industry was born to disrupt financial incumbents; the banks. As of the end of last year, new services and technologies had created more than 20 'fintech unicorns' according to TechCrunch.

Fintechs such as Kabbage, Ncino, Robinhood, Stripe, Avant and Affirm have achieved unicorn status; many of these companies are provided technology and services to traditional banks.

In August 2019, Ezbob won the 'best fintech partnership' award at The Banker's Tech Projects Awards. Ezbob was recognised by industry experts for its successful partnership with RBS' Esme Loans. Ezbob's platform enables Esme to build, launch and operate financial products for its SME customers, drawing on the data available in the UK's Open Banking environment.

Ezbob's partnership with banks is offered as a SaaS, or in some cases a LaaS (Lending as a Service). Each bank can choose if it wants to build its own in-house team or outsource the lending to Ezbob. Regardless, the result is that the bank and its customers receive all the fintech benefits of the Ezbob platform; a seamless, digital and fast SME loan application process which takes an applicant minutes to complete, and a faster loan decision with instant funding into the client's bank account of choice. In addition, Ezbob's award-winning platform provides the bank with a cost saving of up to 80% when processing these types of loans.

Ezbob's modular platform includes:

• A Smart Onboarding Engine which simplifies SME loan applications and includes robust KYC/AML, Fraud and Sanctions technology.
• Catalyst+, which is the comprehensive, end-to-end solution including smart onboarding, a risk engine, activation engine and servicing engine that aggregates data from more than 40 different service providers, offering banks the ability to work with multiple data sources without having to onboard each one as vendors.

Ezbob's ambition is to move into adjacent sectors, and the company is also exploring further partnerships with 'big tech' companies as they move into the financial services space.

Tomer Guriel, Founder and CEO at Ezbob, said: "Ezbob has enabled Esme and our other clients to lend to SMEs faster, smarter, more cost effectively and with improved credit data insights."

Ends

About Ezbob

Ezbob is a UK-based 'Lending-as-a-Service' (LaaS) software provider for banks and other financial institutions. The company's leading product is a digital, end-to-end business loan platform.

The automated online platform analyses the applicant's personal and business information, including links to business bank accounts, online marketplaces, online accounting providers, payment service providers, and e-commerce platforms with which Ezbob is integrated. Ezbob compiles this data into a workable client profile in an instant so that its risk engines can make a qualified decision, allowing the approved applicants immediate funding.

Oak Tree Capital, Bank Leumi, the Hagshama Fund and the UK Government's Business Bank's Angel Co-Fund are equity investors in the company. Partners include Alibaba.

In August 2019, Ezbob was awarded 1st place for it's Smart Onboarding Engine in the Banker's Tech Projects Awards, which recognise the most innovative, imaginative and successful projects in financial technology from around the world.

Find out more at http://www.ezbob.com

SOURCE Ezbob