NatWest Rapid Cash Named “Best Business Lending Product” For Second Consecutive Year By FinTech Breakthrough
Prestigious International Awards Program Recognizes Outstanding Financial Technology Products And Companies
LONDON, March 17, 2022 – NatWest Group plc, today announced that for the second straight year NatWest Rapid Cash has been recognized as “Best Business Lending Product” in the annual FinTech Breakthrough Awards program conducted by FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global FinTech market today.
NatWest Rapid Cash is a digital, flexible working capital product and ‘breakthrough’ fintech solution for business financing. The product unlocks the capital in unpaid invoices, providing SMEs an alternative to a conventional business overdraft. It combines innovative use of cloud data with the bank’s financial expertise and personal touch to deliver a cash flow solution that is quick and simple.
“For small to medium sized enterprises, cashflow is essential for operations, growth and in some cases, survival. Traditional working capital funding is slow and expensive and pricing structures lock customers in and levy high fees,’” said James Johnson, Managing Director, FinTech Breakthrough. “NatWest Rapid Cash is revolutionizing the working capital concept for SMEs, delivering a “breakthrough” solution by partnering technological innovation with a human approach. Congratulations to NatWest on a well-deserved second ‘Best Business Lending Product’ award.”
The FinTech Breakthrough Awards is the premier awards program founded to recognize the FinTech innovators, leaders and visionaries from around the world in a range of categories, including Digital Banking, Personal Finance, Lending, Payments, Investments, RegTech, InsurTech and many more. The 2022 FinTech Breakthrough Award program attracted more than 3,950 nominations from across the globe.
“We are overjoyed to win this award from FinTech Breakthrough for the second consecutive year. The vision for Rapid Cash is to break through the murky marketplace by offering SME lending that’s as accessible and controllable as consumer lending. Our digital lending proposition helps SMEs unlock the cash in their unpaid invoices,” said NatWest Rapid Cash CEO Julie Ashmore Dann. “Fast, swift, simple and friendly, it serves as an invisible support for SMEs during the tough times and the good. Our ambition is to empower SMEs in achieving their business goals by effortlessly releasing cash today, helping them thrive tomorrow.”
To be eligible for Rapid Cash you must be trading for more than 6 months, have an annual turnover of at least £100k and either be a Limited Company or Limited Liability Partnership in England and Wales. Additionally, you need to invoice other businesses and use one of the following digital accounting software: Xero, Quickbooks, Sage 50, Kashflow, FreeAgent and NetSuite. Security and guarantee required. Product fees may apply.