CFIT says financial health tools could unlock GBP £5 billion
Publication: CFOtech
New research from the Centre for Finance, Innovation and Technology highlights how financial health tools could help address the UK’s SME finance gap and unlock up to £5 billion in additional lending each year. The report identifies financial readiness, fragmented data and limited visibility of creditworthiness as key barriers preventing viable SMEs from accessing finance.
FXE Technologies was among the organisations involved in CFIT’s SME coalition, which developed and tested tools designed to help businesses better understand their funding position and improve lending readiness. The findings underline the role of data, technology and targeted guidance in making SME finance more accessible.