Virgin Money has selected Trade Ledger, which specialises in data-driven lending technology, to continue building its business banking proposition.
Trade Ledger is a global technology provider for the commercial banking and financial services industry, assisting banks to offer lending products to their customers. Its platform has a lending-as-a-service (LaaS) capability, supporting secured and unsecured lending, to unlock all types of working capital and business lending products for businesses.
The partnership with Trade Ledger allows Virgin Money to boost user experience for business customers applying for lending. The initial Trade Ledger products in scope for the Virgin Money Working Capital Health proposition include business term loans, asset finance, and invoice finance.
Virgin Money’s partnership with Trade Ledger is part of its commitments to the GBP 35 mln award from the Banking Competition Remedies (BCR) Capability and Innovation Fund in 2020.
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