- SEC fines Citigroup for books and records violations and inadequate controls
- Wahed Invest launches Halal-friendly digital investment platform
- Specialist UK police unit prevents £25m of fraud in first half of 2018
- Research finds customers less likely to remember the amount paid by card than cash
- RBS' chief financial officer to join HSBC as finance director
- Diebold Nixdorf wins ATM patent dispute against Nautilus Hyosung
- Halifax reveals Greater London house prices per m2 stall for first time in eight years expired
- RBS welcomed tech pioneers to Edinburgh expired
- Fed Board prohibits former NBRS Financial boss from working in the banking industry expired
- Industrial Bank uses Avaloq to create Hong Kong private banking business expired
- FS workers amongst worst in UK for doing nothing to relieve work stress expired
- Continuous learning will keep FS ahead of evolving malware threats 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.