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NatWest mulls SME online lender project

NatWest mulls SME online lender project

NatWest is contemplating the launch of an online lender for small businesses, in concert with Warburg Pincus, according to Bloomberg.

The wire service reports that NatWest is engaged in tentaive talks with Belgium-based digital bank Aion and its technology partner Vodeno - both owned by US private equity giant Warburg Pincus.

The plan would see NatWest use Vodeno's data technology to make lending offers to small businesses that are often overlooked by big banks.

It could also use Aion and Vodeno's tech to offer a 'Banking-as-a-Service' package for retailers to offer buy now, pay later credit to consumers at the checkout.

Bloomberg, which cited "people familiar with the matter", said the plan had the tentative support of senior people within NatWest Group, but was still in the early phase of planning and consideration.

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