SMERSS

Commerzbank launches peer-to-peer lending platform for SMEs, Main Funders

Commerzbank logo

Commerzbank says it’s the first major bank in Germany to develop this type of digital financing marketplace. Main Funders is aimed at SMEs. Main Funders enables clients of Commerzbank’s Mittelstandsbank (MSB) business division (which caters for SMEs) to present concrete investment projects to potential investors and secure financing. The financing volumes are between €200,000 and […]

Seven major financial institutions in blockchain project for European SMEs

Collaboration

The participants are BNP Paribas Securities Services, Caisse des Dépôts, Euroclear, Euronext, S2iEM, Société Générale and Paris Europlace. They have signed a memorandum of understanding (MoU) to study and develop a post-trade blockchain infrastructure for SMEs in Europe. The agreement is open to other interested parties. The aim is “to improve SME’s access to capital […]

Myanmar Oriental Bank in banking software revamp

Myanmar is busy with banking tech projects

Myanmar Oriental Bank (MOB Bank) is looking to modernise its core banking software. Banking Technology understands that the new system of choice is Temenos’ T24. Temenos provided a “no comment” response. MOB Bank was set up in 1993 and is privately owned. It has 26 branches and offers savings, remittances and SME financing. The bank […]

New digital bank for SMEs gearing up for launch in Germany

Luka Ivicev, Penta Bank:

Penta Bank is a new digital banking player in Germany working towards a spring 2017 launch. Penta’s initial target market will be German and French SMEs. “Our target businesses are funded start-ups and SMEs that are cashless,” says Luka Ivicev, Penta’s head of product. Penta has been in the making since February this year. Usability […]

New UK bank, CivilisedBank, submits banking licence application

UK flag

A new digital bank for UK businesses and consumers, CivilisedBank, has submitted its banking licence to the regulators, Financial Conduct Authority (FCA) and Prudential Regulatory Authority (PRA). It expects to receive the licence later this year and to open for business in early 2017. Set-up and technology CivilisedBank will not have any branches. It will […]

NAB teams with Telstra for digital SME marketplace

Leigh O’Neill, NAB

National Australia Bank (NAB) and telco firm Telstra have partnered for an SME digital marketplace called Proquo. Proquo will offer more than two million Australian small businesses an online platform to network, trade or swap services with each other. Leigh O’Neill, NAB executive general manager micro and small business, says: “Small business is the backbone […]

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