Wirecard extends platform to B2B lending market

Source: Wirecard

Wirecard, the international innovation leader in the field of digital financial technology, is expanding its ecosystem of value-added services by now offering loans via its platform to existing B2B customers.

Merchants can now benefit from flexible, digital loan-approval processes at favorable terms.

The credit assessment and decision system is directly integrated into Wirecard's digital payment infrastructure. An Artificial Intelligence (AI) based data analysis system, which uses data from long-term business relationships in the area of payment processing, can be used for real-time evaluation. Merchants with acute funding needs will therefore benefit from uncomplicated decision-making processes and shorter waiting times for loan disbursements.

Alexander von Knoop, CFO of Wirecard AG: “In recent years, Wirecard has grown from a pure payment provider to one of the leading specialists in the field of digital financial technology. As part of our global strategy, our aim is to offer the most comprehensive portfolio of digital financial services from a single source on a digital platform. The loan business, therefore, not only offers huge additional value for our customers, but also directly leverages the potential offered by a globally consistent digital platform.

After a successful pilot phase and as part of the expansion of the Wirecard ecosystem, the loan business is now being rolled out internationally. For this, Wirecard cooperates with major financial institutions, bringing together real-time AI technology and traditional banking services.

In addition to medium-sized and larger customers, there is future potential in the SME segment. With a tailor-made credit solution, Wirecard can now respond to the liquidity requirements and needs of SMEs. Today, almost 240,000 B2B merchants are already connected to the Wirecard platform for digital payment processing, including 37,000 large and medium-sized along with around 200,000 smaller companies.
Contributed | what does this mean?
This content is contributed or sourced from third parties but has been subject to Finextra editorial review.

Comments: (0)

Featured job
All Jobs »