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Shawbrook Bank rolls out portfolio monitoring from FXE Technologies

A significant client win for Funding Xchange's white-label technology arm.

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Katrin Herrling, FXE Technologies / Marcelino Castrillo, Shawbrook Bank.

In a multi-year partnership, Shawbrook Bank has agreed to roll out proactive portfolio monitoring powered by FXE Technologies, the lending tech arm of Funding Xchange.

Shawbrook says the monitoring will be used across the bank’s SME lending portfolio, giving a more powerful insight into its loan book risk and performance.

For FXE’s part, its PortfolioMonitoring solution was funded in part by its BCR grant and the close partnership with Shawbrook.

“We’re obsessed with delivering a great experience for customers and their advisers, which means understanding them better than anyone else,” said Shawbrook CEO Marcelino Castrillo.

“Data and technology, demonstrated brilliantly with the PortfolioMonitoring tool we’ve developed with FXE, enables us to build that understanding in the least intrusive way.”

Most lenders only proactively monitor a tiny subset of their highest risk accounts, leaving the vast majority unsupervised until a payment is missed.

By moving to a proactive monitoring approach, Shawbrook says it’ll be able to react early to customers in difficulty, whether by offering new funding to support growth, consolidating existing debt balances or with other tailored concessions.

Funding Xchange CEO and co-founder Katrin Herrling described the partnership with Shawbrook as a “textbook example of how to deliver innovation”.

“Right from the beginning, our teams were on the same page, both in terms of vision for the solution and the way in which insights will focus the activities of the bank’s team on supporting customers.”

“The result is a solution that delivers truly actionable insight to risk, underwriting and relationship management professionals while minimising the impact on the customer.”

As well as Shawbrook’s account data, FXE’s portfolio monitoring also uses data from credit bureaus, aggregated current account data, filed accounts and more.

FXE says its took can also be configured to individual lenders’ risk and portfolio composition preferences.

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