How can financial institutions design new business lending products that take advantage of the data available to them? How will the pandemic affect the lack of credit available to small and medium enterprises?
Martin McCann, CEO and co-founder of Trade Ledger, shared his views about what’s around the corner for business lending, in the latest episode of the FinTech Australia podcast. “Mostly banks are becoming tech companies,” he said, but tech companies are moving in.
“Banks need to think very clearly about what sectors of the market they want to own and what they’re really good at.” He discussed the characteristics that will help banks thrive, using data to understand their customers.
He and presenter Dexter Cousins, of Tier One People, also talked about how to grow a fintech startup rapidly, where’s the best place on the planet to do it, and why Trade Ledger’s culture is so important.