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- IBM announces new blockchain banking solution
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- Private banking AUMs bounce back in Asia-Pacific
- Ohpen recognised for its investment and innovation in the UK expired
- Deloitte and Avaloq release joint whitepaper dedicated to digital wealth advisory expired
- Oracle launches financial services transaction filtering expired
- Banks plan to make major investments in Open Banking by 2020 expired
- Goldman Sachs reports good overall performance for Q3 expired
- Fifth Third to advance B2B accounts payable for commercial clients expired
16th June 2017
ArchOver partners with Escalate to offer secure loans to the SME market
Peer-to-peer (P2P) business lending platform ArchOver is to partner with Escalate, a fixed-cost commercial dispute resolution service for SMEs. The partnership will enhance ArchOver’s ability to provide secure loans to the SME market, helping borrowers to bring in disputed payments and enhancing security for lenders as a result.
Escalate’s rapid no-win no-fee dispute resolution will enable ArchOver to recover any contested assets used as security for loans over the ArchOver platform. Escalate will ensure that lenders on the platform are protected by ensuring contested debts are paid and repayments can be made on time, working in tandem with ArchOver’s insurance partner firm Coface and the company’s all-asset charge on borrower assets.
Borrowers who don’t have time to chase down their disputed debts will also benefit from Escalate’s resolution service by using it to recover invoices that could be used for additional security. This will ultimately increase the amount they are able to borrow.
“Within the SME market, all sorts of debt tends to be written off due to the time and money it takes to chase debtors down,” said Ian Anderson, ArchOver COO. “With Escalate on board, we will now be able to help SMEs to recover that debt, managing their cash flow and increasing their ability to access essential funding as a result. Combining our monthly monitoring and insurance policies with Escalate’s dispute resolution will also enable us to provide that extra level of assurance for our lenders.”