The Challenge

HSBC was looking to re-enter the small business lending space to serve over 1M businesses in a highly competetive market.

Biz2Credit brought the capabilities, the platform, the experience as a leadership team, and was able to understand what we needed to serve the small business space.

Jeff Brown
Head of Business Banking

The Solution

  • Selected Biz2X Platform over five competitors
  • Self-service application for customers with omni-channel capability
  • 5-minute automated application with minimal paperwork
  • Advanced decision engine for auto approvals up to $250K CAD
  • Biz2X platform leverages AWS cloud and security features/ services to meet Bank’s security and compliance requirements.

The Results

Key Outcomes for HSBC:

  • 80% Increased Approval Rate
  • $10M Loan Closure within 6 months
  • $45K Average Funded Loan