With better credit assessment and smarter lending, Bright can offer fairer rates and lower fees for small business loans.
Retain ownership of your data, secured by the blockchain.
Through Bright's lending marketplace, comparing loan terms has never been easier.
Lenders can make accurate lending decisions instantly, there is no delay in accessing the credit your small business needs.
Link banking data to your Data Vault using Open Banking APIs, or alternative sources such as social data from Twitter or Facebook, and discover a new fairer way to assess credit risk.
We use machine learning to measure your credit risk from the data you upload. The more data added to your vault, the more accurate your credit rating.
Lack of accurate, dynamically refreshed small business data used for credit risk assessment
Legacy back office infrastructure in the financial services sector results in scalability and cost issues for small business lending, particularly in the underwriting process
Prohibitive Terms and a Growing Credit Gap
Lenders view small businesses as particularly high-risk, raising their borrowing costs and collateral requirements to prohibitive extremes. 50% of micro, small and medium enterprises worldwide lack access to credit
Automation of underwriting processes for financial services institutions
Unlimited scalability of lending liquidity from capital markets
Serving unserved and underserved small business segments
Handing control and portablity back to the small business over their data, and incentivising them for providing it