A team of UK FinTechs including Trade Ledger, a digital lending platform; Wiserfunding, a digital SME credit scoring platform; Nimbla, a trade credit insurance provider, and NorthRow, a remote client onboarding platform, have established a FinTech taskforce to provide a turn-key loan origination and underwriting platform that allows banks, alternative lenders and private debt lenders to virtually and digitally deploy funds to businesses during the Covid-19 outbreak.

The concern of the taskforce is that grants, loans and guarantees including the British Business Banks’ Coronavirus Business Interruption Lending Scheme (CBILS) funding may not get to those SMEs that most need it – or in the timeframe needed.