11 August 2020
The WOA Alternative Finance Learning Lab is happy to share TradeLedger’s recent white paper.
The COVID-19 pandemic has put businesses under immense strain. Their economic prospects, through no fault of their own, are bleak. Their cash flow runway is in many cases only a few weeks’ long. And, their outlook is precarious as they depend on financial institutions to make lending a truly efficient process – urgently.
As a key lever of the financial ecosystem, business lending must push into the new era at full speed, reengineering its framework to help small and medium-sized enterprises (SMEs) – and the societies that depend on them for services and employment – to survive in the post-pandemic world.
It will be some time before we understand fully the repercussions of this crisis, but two things are already clear:
First, that the business lending infrastructure - just about good enough in normal conditions - is not fit for purpose in times of profound crisis, deepening the economic emergency affecting all of us.
Second, the speed of transition to the digital economy has gone from gradual to accelerating at full-speed – and not just for customers but for the entire banking and lending sector.
Discover more by downloading TradeLedger’s white paper.