Many businesses across the UK have lost revenue and seen their cashflow disrupted as a result of the Covid-19 outbreak. To help get companies get back on track, the government has introduced various safety nets. One of these is the Bounce Back Loan scheme (BBLS).
At the time the scheme was launched and the first loans were issued, no one could have predicted the path of the novel coronavirus, and its impact on the UK and the world. People understandably went into panic, and previously solid, established and financially stable companies took on the emergency loans.
So how can lenders cope with the BBLS hangover?
Uncover the 3 Rs of Open Banking for BBLS where we explore three key ways that lenders can use Open Banking to cure themselves of the aftermath of BBLS, while still delivering good customer outcomes.
Uncover the 3 Rs of Open Banking for BBLS