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Just a few short months ago, we launched our new fintech business which aims to break down barriers to SMEs accessing loans through rapid, technology-powered decisioning. Now we’re delighted to be able to talk more about how we’re actually doing this, including this really exciting partnership with AdviceRobo.

The partnership will draw on best-in-class machine learning capabilities and AdviceRobo’s impressive array of alternative data sources; facilitating state-of-the-art, rapid, AI-driven risk decisioning and automated portfolio management. The combination of our proprietary risk decision engine analytics and AdviceRobo’s alternative data and AI will facilitate rapid, transparent credit decisioning for SMEs, and reduced risk profiles for investors.

By drawing on a much greater range of data sources than traditional lenders are able to consider, we can build a much clearer picture of the risks and opportunities presented by each SME looking for funding. Not only does it give us a lot more to go on, allowing us to make quick, clear decisions and communicate them directly to the borrower, but it also provides an additional level of security to our investors, ensuring we can identify any potential risks early, and address them before they become a problem.

This is great news for SMEs, especially at a time when the economic situation is making it ever harder to secure vital funding. By providing non-dilutive funding options we’re helping small businesses retain ownership of their offering while still accessing the funds they need to grow and succeed. Not only does it drastically reduce the time to access funds, skipping the slow and laborious paper-based applications of many of the big banks, but it also means that we can consider factors traditional credit bureaux can’t, allowing more SMEs than ever to access funds that may have been unfairly denied them by older lenders.

Walter Gontarek, CEO of Channel, added: “Innovation is at the forefront of our business proposition, and we are delighted to have extended our relationship with AdviceRobo, especially given its strength in alternative data and AI driven decisioning. Technology is a vital differentiator in SME lending and our aim is to continue pushing the boundaries to drive speed, transparency and efficiency across business-lending processes.”

Diederick Van Thiel, CEO of AdviceRobo, said: “As a business, we are passionate about harnessing the power of AI to help accelerate the growth of small businesses and we are very excited to advance our ambitions with Channel. They share our vision for how advanced tech and data will result in better decision making and greater innovation to accelerate access to finance in these unprecedented times.”

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