Businesses will be able to borrow up to £35,000 and receive the money within 24 hours upon the successful completion of an application.
The online platform – which will be rolled out this summer – will immediately show customers how much they can borrow when they log in.
Marcelino Castrillo, managing director of business and private banking at RBS, said: “Businesses tell us they want to do their banking when and where it is convenient for them, so we have transformed our lending capabilities to make this possible.
“We also want businesses to know we are open for lending, so rather than waiting for them to come to us, we will proactively show them how much they could borrow when they log into their online banking.”
This new platform is one of several innovations by NatWest.
These include Esme, an automated SME lending platform; and Nift, a software platform that makes terms and conditions easier for customers to read and understand.
The high street bank has also partnered with accountancy software company FreeAgent, whose software can be linked to customers' bank accounts to save them valuable time.
- Business lender secures £15m credit line
- How good use of data leads to fast decision making in business finance
- 73% of SMEs put off by funding application procedure
Businesses will be able to borrow up to £35,000 and receive the money within 24 hours upon the successful completion of an application.
The online platform – which will be rolled out this summer – will immediately show customers how much they can borrow when they log in.
Marcelino Castrillo, managing director of business and private banking at RBS, said: “Businesses tell us they want to do their banking when and where it is convenient for them, so we have transformed our lending capabilities to make this possible.
“We also want businesses to know we are open for lending, so rather than waiting for them to come to us, we will proactively show them how much they could borrow when they log into their online banking.”
This new platform is one of several innovations by NatWest.
These include Esme, an automated SME lending platform; and Nift, a software platform that makes terms and conditions easier for customers to read and understand.
The high street bank has also partnered with accountancy software company FreeAgent, whose software can be linked to customers' bank accounts to save them valuable time.
Leave a comment