Ulster Bank speeding up SME loans

Ulster Bank is investing tens of millions in new risk assessment technology, in a bid to hasten loan approvals for small firms and grab market share from the pillar banks.

27th January, 2013

Ulster Bank is investing tens of millions in new risk assessment technology in a bid to speed up loan approvals for small businesses and grab market share from the pillar banks.

The RBS-owned bank, which is the third-biggest lender to SMEs in Ireland, is installing an automated credit scoring system to help loan officers give same-day responses for half of all approvals on loans of up to €80,000.

The quick turnaround would be a huge...

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