Improving customer satisfaction by using the Government-backed Bank Referral Scheme to promote access to funding in the SME lending market
It's the first place business owners turn to for finance
Sometimes the bank just can't help
That doesn’t mean the business can’t be funded
But as a trusted partner the bank can talk to customers about their options
Has now been set up to help
With the customer's permission a request for finance is referred to three platforms which are
Customers choose which platform to engage with
The platform customer service team guide the business owner through a simple question process
Answers power an engine that finds suitable matches These matches are ranked and sorted to aid customer choice, helping to identify the most appropriate products available
With the customer's consent the platforms make enquiries to appropriate funders
Most communications are between funder and customer with the platforms overseeing the process Improving the chances of securing growth finance for their business
And in a growing number of cases... This results in a successful funding!
Strengthening relationships throughout the process