By Daniel Lanyon on Friday 23 August 2019
NatWest’s flanker digital lending platform has started to grow more quickly.
Esme Loans has grown its loan book by 40 per cent in four months and has now lent over £70m to UK businesses.
The platform passed £60m one month ago and at its current trajectory, Esme says it will have reached £100m before Christmas.
Richard Kerton, CEO, Esme Loans said: “We’re pleased to have seen a sustained increase in customer interest and appetite during the summer months. Our digital process and fast approval times are resulting in UK SMEs increasingly choosing Esme Loans to help grow their business, and we’re making sure we repay their confidence in us by continuing to invest in our products, processes and technology.”
As part of its plans to continue its growth, Esme Loans announced earlier this year it had enlisted Microsoft to build a data warehouse and AI-assisted chatbot to help improve its customer experience. Its parent company NatWest also announced at the beginning of the year that it was to offer Esme Loans as part of its core product offering to Business Banking customers for the first time.