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718. News: The ultimate Silicon Valley Bank explainer

Fintech Insider Podcast by 11:FS

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I Walk Is Introducing Open Banking Power Instant Decisions for SME Loans

Alternative lender, I walk is running out instant decisions within one minute for loans up to £25,000 with the help of European credit information company, CRF. With this new embedded finance partnership, SMEs using the credit passport service will be able to apply in just one minute for an I walker loan directly from their credit passport account. This is a full credit approval that the business can draw down straight away. For larger loan requests, customers still receive a decision within 24 hours. Our whole customer journey from a small business owner applying to actually getting the money in the bank is self-serve and our record was two minutes 37 seconds.

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