Last month, Codat joined Oracle and Deloitte as part of UK Finance Webinar series to consider the impact of COVID-19 on the lending needs of SMEs and how lenders can respond to meet this need..
Follow this link to listen: https://www.ukfinance.org.uk/events-training/webinar-hub
What can you expect to hear?
We are reaching a tipping point for data driven SME lending.
Recent events have placed unprecedented strain on SMEs and the financial institutions who support them, with deep impacts on the landscape of business lending in the UK.
Lenders must respond to demand quickly while facing major operational disruption. Additionally, the sudden nature of COVID-19 combined with the lack of publicly available up to date information on most SMEs makes the challenge harder. In this environment, digital data provision and consumption provides a substantial advantage on both sides of the SME lending relationship:
1. SME borrowers who can easily provide quality data to lenders will have greater choice and be able to borrow on better terms.
2. SME lenders who can easily consume data, intelligently process, analyse and manage it, will be able to make better decisions and achieve better outcomes.
It seems likely that COVID-19 will further differentiate SME borrowers and lenders by their ability to provide and consume complete and up to date data. Winners and losers will emerge as connectivity enables superior outcomes for SME borrowers and lenders who handle the new normal of data-driven lending best
This webinar considers the impact of COVID-19 on the lending needs of SMEs and how lenders can respond to meet this need:
• How are the borrowing needs of SMEs needs changing?
• How do lenders respond to these changing needs?
• What role does great data provision and consumption play?
• What does great data connectivity look like?