FinTech Alliance company mmob has partnered with small business lender, iwoca.
In Brief:
The pair aim to improve access to credit.
iwoca has joined mmob’s network of third-party digital finance providers.
The partnership will help banks embed small business loan provision into their digital ecosystems.
What does this mean?
Banks are expected to be reducing their appetite for risk following the recent uncertainty – and iwoca argues that embedded finance will be the future of lending to SMEs. Mmob's commercial partners will be able to respond to demand from SMEs for lines of credit, which will be important for getting businesses back on track after the Covid-19 outbreak.
