Given the events of the last year, supporting the Missing Middle - businesses who have the most significant impact on economic and employment growth – has never been more crucial
- The unprecedented nature of the pandemic means that historic correlations in commercial lending are broken and existing risk models are no longer fit-for-purpose
- OakNorth Bank in the UK has leveraged the ON Credit Intelligence Suite to lend over £5.1B since its launch in September 2015, including over £1.1B in 2020
- Commercial lenders take a bottoms-up, granular, forward-looking view of their loan book, splitting the economy into 262 different sub-sectors
Taking the standard commercial lending approach, where you're only looking at historic information, simply does not work in this environment
- As government fiscal stimulus is reduced, there will likely be a significant increase in business insolvencies
- With the ON Credit Intelligence Suite, commercial lenders get a bottoms-up, granular, forward-looking view of their loan book, splitting the economy into 262 different sub-sectors
- Lenders stress-test their entire portfolio to ensure their borrowers not only survive the stress scenario, but that they’re also not over-leveraged businesses who can't afford to service their debt coming out of it
Want to learn more about the ON Credit Intelligence Suite? Register now for an upcoming live demo to see the technology in action.