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MYOB has partnered with Sydney-based lending platform Valiant to launch predictive finance offerings to SMEs based on their data.
The fintech’s business lending options are now available in MYOB’s software, with predictive solutions to be integrated into MYOB Essentials by the end of the year.
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MYOB’s software will signal to customers where they can anticipate upcoming capital needs and access potential loan solutions through Valiant.
Eligible MYOB customers will gain access to a tailored subset of Valiant’s lending panel of around 80 providers, from the big four banks to boutiques, offering term loans, business overdrafts, commercial and development lending, fit-out financing and asset finance.
MYOB general manager for financial services, Andrew Baines, commented the partnership will create a one-stop shop for SME working capital needs.
“Access to working capital at the precise moment it’s needed can be the difference between live or die for a small business. Our data demonstrates more than a quarter (26 per cent) of SME owners and operators find access to finance a source of a lot to extreme pressure, and that’s extra worry no business needs in these times of recovery,” Mr Baines said.
“We are excited by the opportunity to streamline the customer experience with Valiant, saving businesses time on paperwork and offering an easy way to access the right solution, at the right time. Time saved can then be better spent on activity that provides greater value to their business.”
Alex Molloy, founder and chief executive of Valiant, added the companies are aiming to “predict and serve finance needs more accurately and faster than anyone else”.
The partnership has followed MYOB launching new invoice financing solutions through Butn, which is set to roll out for MYOB Essentials customers in the coming months.
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