The world’s first open banking business lending platform, Trade Ledger, was named the Fintech Start-up of the Year, and Lending platform of the year at the Fintech Business Awards at a gala ceremony last night.
The award comes as Trade Ledger continues to revolutionise the international fintech landscape, following international expansion into UK and EU markets, and signing up a series of major banks in its first year of operations.
In accepting the award Trade Ledger’s CTO Matt Born said the multiple accolades should send a strong message that the revolution in data-driven business lending is “already becoming mainstream.”
“Data-driven business lending is a generational chance for the entire financial sector. We must get it right, to enable SME’s to fulfil their full potential,” he said.
“Digital banking services don’t recognise the existence of international boundaries. If local providers don’t get it right, we risk the invasion of powerful fintech lenders from beyond our shores.”
Trade Ledger beat a field of nine other start-ups, in two award categories, in a competitive line-up that included some of the nation’s hottest up-and-coming firms.
Trade Ledger is the first business lending platform in the world to automate the entire credit assessment process, assess supply chain data in real-time, and calculate risk down to individual invoices. No other lending tech in the world can do all of these things.
The market that Trade Ledger is helping to unlock could allow banks and other business lenders to tap into unmet business credit demand worth AU$90 billion in Australia and US$2.1 trillion globally.
“The Trade Ledger platform equips lenders with the same degree of technological proficiency as is possessed by massive tech firms like Google or Amazon, while arming them with the tools needed to meet our booming innovation ecosystem’s need for credit,” continued Mr. Born.