- Fed Board fines Citigroup for improper execution of residential mortgage-related documents
- Norwegian banks co-operate on account aggregation ahead of PSD2
- Singapore banks to offer PayNow to businesses
- The EBA updates data used for the identification of G-SIIs
- Open Banking: innovation to solve customer needs as banks wake from slumber
- Three months after its IT upgrade issues, TSB finally offers remortgages
- New ABN AMRO campaign highlights sustainable business expired
- American Express and GreenSky partner to enhance digital payments and financing capabilities expired
- Emirates Islamic offers bonus Skywards Miles expired
- RBS proud to be named as a Stonewall top employer for LGBT inclusion expired
- Commerzbank sees revenue growth of 4% in H1 2018 expired
- ING Group posts strong second quarter 2018 results expired
10th August 2018
Small businesses get new financing opportunity with Debitum Network
According to the World Bank, more than 70 per cent of small businesses in emerging markets can’t get their hands on the cash they need from traditional lenders, a shortfall estimated at $2.6trn. Launching in September 2018, Debitum Network aims to provide the missing link.
Its system connects borrowers, via local infrastructure, to a vast market of global investors. The key, the company says, is to make the financing process work as a balanced ecosystem, rather than a series of separate units.
Debitum provides opportunities to investors located anywhere in the world, with competitive returns of 10-15 per cent. Investments are safeguarded via access to independent local risk assessors and debt collectors, as well as global insurance providers – all from within the platform itself.
And because Debitum specialises in B2B loans, it faces fewer obstacles to market entry in terms of compliance requirements – enabling it to rapidly roll out its broad portfolio of products, tailor-made to address the diverse needs of small businesses.
The Debitum solution promises security and transparency through the use of Ethereum blockchain technology. And because it’s blockchain-based, it’s also truly decentralised – removing the bottlenecks of traditional banking, and allowing an unlimited number of investors to take part. By automating processes via smart contracts, Debitum is more efficient, ensuring small businesses get the financing they need – fast.