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BT EXCLUSIVE

Coming soon: a central platform for SME loans?

It will cut paperwork, save time; PwC is getting lenders onboard and hopes to roll it out by early next year

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"Once two or three (banks) sign up and they see the benefit, then others would not want to lose out," says Sam Kok Weng of PwC Singapore. "With more changes, there will be a tipping point."

Singapore

IMAGINE a single platform where all of some 270,000 small and medium-sized enterprises (SMEs) here can get a loan quote from multiple banks - with just one application.

This could slash the time taken to secure a loan from an average of seven weeks down to two, with SMEs...

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