German commercial bank NORD/LB is partnering with lendtech provider Trade Ledger to accelerate funding for large companies.
Trade Ledger’s digital, API-first, lending-as-a-service (LaaS) platform reduces the manual work required for banks to process large-scale mortgage-backed loans.
The intention of the platform is to reduce the time from receipt of an invoice to disbursement of funds from 7 days to just 24 hours, and “significantly improve” access to working capital for customers.
Trade Ledger CEO Martin McCann says the digital solution the company has developed for NORD/LB is a “world first”.
“There is no comparable fully digital solution in the large corporate debt financing space,” adds McCann.
The Trade Ledger platform analyzes the digital data required to initiate a loan and retrieves invoices directly from the borrower’s enterprise resource planning (ERP) system such as SAP.
The solution also provides analytics and insights to improve bank lending decisions, feeding real-time digital data to NORD/LB’s downstream systems to keep end-to-end processes synchronized and up-to-date. let it be preserved. A view of the customer’s funding position is “always” maintained.