ASX-listed aggregator AFG has announced a strategic alliance with an international fintech company, which will enable AFG brokers to innovate lending for small businesses in Australia.
The partnership will allow AFG to leverage Biz2Credit’s patented analytics and financial services technology to process small business loan requests more efficiently.
Loan applicants will enter information through a new online small business portal. The technology will enable AFG brokers to provide small business borrowers with a broader range of options and deliver faster access to capital.
“The ability to receive assistance when and where a customer needs it is one of the key value propositions of a broker,” said AFG chief operating officer, David Bailey.
“The SME lending market in Australia has in our view been under-serviced. Using Biz2Credit’s patented technology and AFG’s extensive broker network, competitive SME lending in Australia is getting the kick-start it needs to succeed.”
Biz2Credit’s CEO and co-founder Rohit Arora said this partnership also welcomes Biz2Credit’s launch in the Australian market.
“Aligning with AFG as our exclusive distributor of Biz2Credit’s advanced financial technology will bring an innovative SME lending platform to the continent of Australia,” he said.
“This is a significant engagement with an active organisation operating in the Australian financial services market that understands there is an increasing need to offer digital solutions in all areas of small business lending.”
Biz2Credit has helped small businesses obtain more than $US1.4 billion in loans and other financial products across the United States.
The Biz2Credit platform will be rolled out to AFG brokers towards the end of the year.