FIS integrates Lendio's technology

In a bid to assist small and medium-sized businesses (SMBs) in minimising barriers to funding, FIS entered a collaboration with Lendio to leverage the latter’s technology and launch a new solution that simplifies and automates lending processes for financial institutions. Being first in FIS’ digital banking solutions portfolio to focus on loans for SMBs, the SMB Digital Lending services complement the firm’s existing products that cater to consumer lending and large corporate loans.

Moreover, representatives from Lendio underlined that the partnership with FIS is set to provide the new SMB lending platform to banks across the US. In addition, Lendio underlined its commitment to supporting the operations of small business owners by optimising lending, with FIS’ solution further advancing this mission due to its ability to allow banks to provide a convenient, transparent, and efficient loan process to their clients. By joining forces with FIS, Lendio intends to assist the development of both banks and small businesses, with the company aiming to expand its reach and impact through this alliance.

Since the start of its operations in 2011, Lendio has been focusing on aiding small businesses in accessing capital with suitable lenders. The firm enables businesses in need of funds to receive their required resources through the submission of a single loan application. Lendio then leverages its network of over 75 lenders to match each client with the lender that meets its needs and requirements.

The current announcement comes shortly after FIS launched its new trade matching solution that focuses on optimising the UK securities financial market. The company introduced the Securities Finance Matching Platform to serve the needs of UK-based lenders and borrowers, aiming to offer secure, scalable, and convenient processing of securities finance trades. By utilising smart automated matching technology, the solution was set to increase resilience by delivering an improved approach to the market, working towards mitigating single-point-of-failure risk.

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