- John Flint to succeed Stuart Gulliver as HSBC’s Group CEO
- Sigma publishes first-ever financial crime-related rating for Maltese bank
- Banks must tailor their marketing to individual customers, says Optimove
- Fewer than one in ten seek professional advice about financial protection, says HSBC
- OakNorth secures new investment to boost UK businesses in 2018
- US Faster Payments Governance Framework Formation Team announced
- ACI Worldwide and STET team to drive European immediate payments adoption expired
- Barclays’ Chief Compliance Officer to leave expired
- Lords Sub-Committee to look at how financial regulation will evolve after Brexit expired
- Bank of America delivers positive operating leverage in Q3 expired
- JPMorgan Chase delivered solid Q3 results, says CEO expired
- Wells Fargo’s Q3 results hit by the impact of mortgage-related litigation 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.”