Royal Bank of Scotland’s NatWest announced it is set to launch its very own digital SME lending platform called Esme. The new platform is notably set to offer new and existing NatWest customers with unsecured loans that are worth up to £150,000 for a maximum of five years.
“Esme will offer SMEs a quick decision and almost instant funding, allowing those customers to go on and do what they do best – run a business. Through Capital Connections, our panel of five [peer-to-peer] and alternative lenders, we’ve already broadened choices for customers but we wanted to go one step further and create our own alternative lending platform.”
Business Advice also reported NatWest plans to invest £70 million towards giving non-personal banking customers the “best digital experience” that it can. Rose went on to add:
“At NatWest we are committed to designing, developing and trialling innovative customer solutions so we can offer services and products that will really make a difference to our customers.”
The news on Esme’s launch comes just after Royal Bank of Scotland announced plans to open a fintech accelerator and relationship hub for startups at its Gogarburn headquarters in Edinburgh. As previously reported, RBS revealed the new fintech hub will aim to bring together industry leaders and networks and marry them with Entrepreneurial Spark’s tried and tested approach to build, grow and scale businesses as well as a dedicated bank contact.