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New White Paper Points to Where Small Business Lending is Headed

"Lending 3.0: Building a better world for lenders and borrowers" is the title of a new white paper out from Marqeta UK

September 24, 2020 By Peter Renton 2 Comments

Views: 228

While small business lending has been turned upside down this year with the pandemic and all the government programs, innovation is still happening. We continue to move towards a world that relies on real time data and provides instant decisions for small business borrowers. This is the promise of Lending 3.0.

There is a new white paper out from Marqeta’s UK office titled, “Lending 3.0: Building a better world for lenders and borrowers”. It takes us through the different stages in the recent history of small business lending. Lending 1.0 was traditional bank lending where loan applications were complex, credit decisions took a long time and a great deal of effort was required from the small business owner. Lending 2.0 was about the arrival of fintech lenders that were digital-first and provided an online journey for loan applications with quicker lending decisions.

We are now entering Lending 3.0. This is all about real-time data and that doesn’t just include bank account information but also how funds are being spent. With new card technology lenders can provide funds on a virtual or physical card instead of a bank transfer. This will not only help the lender stay top of wallet for purchase choices but also provide key insights into how the loan proceeds are being spent. It bridges the gap between lending and payments and this data will help lenders make better credit decisions.

The white paper goes into some depth about how Lending 3.0 works, its seven key attributes and what it means for the different functions of a lending business. It also provides commentary from 10 industry leaders including yours truly.

LendIt Fintech is proud to partner with Marqeta on the distribution of this white paper. You can download your copy here.

Filed Under: Fintech Tagged With: Marqeta, small business lending, white paper

Views: 228

Comments

  1. Jer at Trihouse Consulting says

    September 24, 2020 at 10:40 pm

    MUCH appreciated Peter Renton & Lend Academy! “See” you at Lendit Fintech!
    Jer

    Reply
  2. Atul Save says

    September 26, 2020 at 3:48 am

    A good move. In banking parlance we call it ‘end use monitoring’. Should help both the borrower and lender.

    Reply

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ABOUT LENDIT FINTECH NEWS

LendIt Fintech News, Powered by Lend Academy, has been bringing you all the news and information about fintech and online lending since 2010 when it was founded by Peter Renton. We not only have the industry’s most active news site, but also the largest investor forum and the first and most popular podcast.

We are a team of fintech enthusiasts who have been covering the industry for many years. With a deep knowledge of online lending, digital banking, blockchain, artificial intelligence and more our team covers the daily news and writes in-depth editorials.

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