# BAWAG Group and Spotcap announce strategic partnership to boost small business lending in Austria Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2018-01-23 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Spotcap and BAWAG Group Partner to Offer SMEs Same-Day Financing Meta Description: Discover the market-leading partnership between Spotcap and BAWAG Group to provide Austrian SMEs with access to same-day financing through innovative online URL: https://financedigest.com/bawag-group-and-spotcap-announce-strategic-partnership-to-boost-small-business-lending-in-austriahtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd230118-6-1736843051342-compressed.jpg) Online lender Spotcap and BAWAG Group announce a market-leading strategic partnership to offer online loans and credit lines to give Austrian small and medium-sized enterprises (SMEs) access to same-day financing. BAWAG P.S.K.’s new lending service will be powered by Spotcap and its cutting-edge platform, with a targeted launch in the first quarter of 2018. SMEs comprise more than 99 percent of all businesses in Austria, many of them financially underserved and [digitally](https://www.financedigest.com/digital-democratisation-through-low-code-the-future-of-finance-success.html "Digital democratisation through low-code – the future of finance success") savvy. This represents a unique opportunity to generate [value and capture market share](https://www.financedigest.com/gonorrhea-therapeutics-market-value-share-supply-demand-share-and-value-chain-2021-2031.html "Gonorrhea Therapeutics Market Value Share, Supply Demand, share and Value Chain 2021-2031") through more efficient products, processes and technologies. Recognizing the many complications that [SMEs face](https://www.financedigest.com/smes-facing-an-uncertain-future.html "SMEs facing an uncertain future"), BAWAG P.S.K. plans to enhance its SME offering as the Bank seeks to reinvigorate its [small business](https://www.financedigest.com/small-businesses-run-out-of-cash-before-they-run-out-of-potential.html "Small businesses run out of cash before they run out of potential") strategy through significant investment in customer service, advisory and products. The partnership with Spotcap will begin with a focused launch for existing BAWAG P.S.K. customers, before becoming available to all Austrian SMEs. The collaboration with BAWAG P.S.K. will be the first partnership for Spotcap in the DACH region, and is the first time Austrian SMEs will be offered a fully digital and [automated solution](https://www.financedigest.com/automated-intralogistics-material-handling-solutions-market-estimates-the-market-to-expand-at-14-cagr-through-2031.html "Automated Intralogistics Material Handling Solutions Market Estimates The Market to Expand at 14% CAGR through 2031") to access same-day financing. The platform further underpins BAWAG P.S.K’s commitment to enhancing its SME offering and [positioning in the market](https://www.financedigest.com/infant-positioning-aids-market-application-trends-growth-opportunities-and-worldwide-forecast-to-2027.html "Infant Positioning Aids Market Application, Trends, Growth, Opportunities and Worldwide Forecast to 2027"). David O’Leary, [Member of the Managing Board](https://www.financedigest.com/bottlenecks-supply-problems-improving-at-abb-robotics-division-board-member.html "Bottlenecks, supply problems improving at ABB robotics division – board member") and Head of Retail for BAWAG P.S.K.: _“Our strategic partnership with Spotcap is another step forward in BAWAG P.S.K.‘s [digital roadmap, and commitment to continually optimize digital channels](https://www.financedigest.com/gamers-spend-twice-as-long-viewing-intrinsic-in-game-ads-compared-to-other-digital-channels-reveals-new-research-from-lumen-and-anzu.html "Gamers Spend Twice As Long Viewing Intrinsic In-Game Ads Compared To Other Digital Channels, Reveals New Research From Lumen and Anzu") and offer best-in-class products, whether through in-house development or strategic partnerships. After an intensive review of the global alternative [lending market](https://www.financedigest.com/u-s-markets-regulator-takes-aim-at-coinbase-lending-product.html "U.S. markets regulator takes aim at Coinbase lending product"), we selected Spotcap, on the strength of its technology and analytics. We have made it our aim not only to make banking easier, but also better for our customers. With this in mind, our new offering will be a leap forward for our SME customers and SME owners in Austria, as they can focus on managing and growing their businesses rather than spending significant time securing financing. Although Austria remains our foundation, the collaboration with Spotcap and this market-leading product is aligned with our DACH [strategy of focusing on core markets and running technology](https://www.financedigest.com/how-to-establish-a-successful-technology-strategy.html "How to establish a successful technology strategy") that is scalable and transformative. As the partnership evolves, both parties will consider ways to offer additional value-add financial services to SMEs in the greater DACH region.” Jens Woloszczak, Founder and CEO of Spotcap: “We are thrilled to enter into a strategic partnership with BAWAG Group to [power its SME lending offering](https://www.financedigest.com/cycling-power-meter-market-to-offer-lucrative-growth-opportunities-for-players-during-the-forecast-period-2018-2026.html "Cycling Power Meter Market to Offer Lucrative Growth Opportunities for Players During the Forecast Period 2018 – 2026") in Austria. We continuously invest in our lending platform as well as our state-of-the-art analytics to provide SMEs with the financing [needed to run their businesses](https://www.financedigest.com/small-businesses-and-scams-what-you-need-to-know.html "Small businesses and scams: What you need to know") in the most efficient way. The partnership is a testament to what we have achieved [developing and operating a direct lending platform across multiple countries](https://www.financedigest.com/cosmetic-packaging-market-to-gather-traction-in-developing-countries-latest-insights-by-transparency-market-research.html "Cosmetic Packaging Market to Gather Traction in Developing Countries, Latest Insights by Transparency Market Research"). BAWAG Group’s strong motivation to improve its [digital offering](https://www.financedigest.com/digitization-to-offer-stewardship-to-the-robotic-surgery-market.html "Digitization to offer stewardship to the Robotic Surgery Market") and further focus on supporting SMEs, coupled with its commitment to partner with best-in-class fintechs, makes the Bank an ideal partner to work with under our Lending-as-a-Service proposition.”_ **Product and Process** [Credit Line](https://www.financedigest.com/austria-grants-credit-line-to-vienna-utility-squeezed-by-power-price-surge.html "Austria grants credit line to Vienna utility squeezed by power price surge") Facility – “ExpressFinanzierung” – is one of a number of options BAWAG P.S.K. will offer to [SMEs to help them manage cash flow including overdrafts](https://www.financedigest.com/putting-smes-first-the-alternative-to-the-overdraft.html "Putting SMEs first: the alternative to the overdraft"), equipment finance, and term loans. This [product will provide Austrian SMEs with the financial flexibility](https://www.financedigest.com/flexible-pay-can-boost-low-productivity-in-the-uk.html "Flexible pay can boost low productivity in the UK") needed to run a business. SMEs can apply for the facility online — in as little as a few minutes — using BAWAG P.S.K.’s fully [digital platform powered](https://www.financedigest.com/apis-are-powering-the-acceleration-in-digital-transformation.html "APIs are powering the acceleration in digital transformation") by Spotcap, and could have access to same-day financing. To ensure credit decisions are [made in a robust and timely](https://www.financedigest.com/analysis-financial-literacy-or-luck-the-year-small-time-traders-made-a-big-impact.html "Analysis-Financial literacy or luck? The year small-time traders made a big impact") manner, BAWAG P.S.K. leverages Spotcap’s digital application flow and analytics, which is [supported by its experiences in other markets](https://www.financedigest.com/engineering-pipe-hanger-and-support-market-estimates-the-to-expand-at-around-4-8-cagr-from-2021-to-2031.html "Engineering Pipe Hanger and Support Market Estimates The To Expand At Around 4.8% CAGR from 2021 to 2031"). The risk [models have been tailored to the Austrian market](https://www.financedigest.com/the-next-decade-to-see-the-humanized-liver-mice-model-market-detonate-innovation.html "The Next Decade To See The Humanized Liver Mice Model Market Detonate Innovation"), and the risk policy requirements of BAWAG P.S.K., with the support of the [Bank’s credit](https://www.financedigest.com/analysis-powerful-swiss-central-bank-faces-reform-calls-in-wake-of-credit-suisse-rescue.html "Analysis-Powerful Swiss central bank faces reform calls in wake of Credit Suisse rescue") experts. Among others, the joint platform will utilize multiple external [data sources](https://www.financedigest.com/exclusive-tiktok-nears-deal-with-oracle-to-store-its-data-sources.html "Exclusive-TikTok nears deal with Oracle to store its data-sources") including the SME’s bank account transaction history to allow for highly-automated decisions, and same-day financing. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---