Funding Xchange founder Katrin Herrling has won a top award for innovation through FXE Technologies platforms.
The Funding Xchange founder has been recognised as a winner in at the Women in Credit Awards for her contribution as a world leading innovator in the development of Portfolio Management platforms.
The FXE Portfolio Monitoring solution was developed in collaboration with clients to provide live insights into the performance of a funder’s lending portfolio. The solution uses background data – including trading performance, cash management and performance of third-party debt – to provide more accurate and earlier warning signals as well as detailed profiles for each business.
With the Portfolio Monitoring tool Katrin Herrling has pioneered the move for lenders to work with businesses through their lifecycle and in doing so address the obligations on them to adhere to responsible lending standards set out by the Financial Conduct Authority.
“The accolade is for our amazing team that is transforming credit assessment with a clear vision for delivering better outcomes for businesses and lenders,” said Katrin Herrling. “It’s fantastic to see that such a prestigious award is recognising the impact our team has. We are grateful for the trust the Banking Competition Remedies Ltd (BCR) placed in us and supporting our journey. It would not have been possible without the grant funding.”
Aidene Walsh, executive director at Banking Competition Remedies said: “We are delighted to see how Funding Xchange has utilised the Capability & Innovation Funds through the development of its Portfolio Monitoring platform which continues to build significant traction with businesses and lenders and has made significant impact for UK SMEs through unprecedented challenges. We are delighted for Katrin and the team in being recognised for its vision through the Women in Credit awards.”
Funding Xchange was one of the four founding portals appointed by the government to provide a declines platform for businesses being declined by their mainstream bank on loan applications. The platform works with a range of high profile business advisors, such as KPMG, and with most of the banks and lending providers, providing access to finance for many SMEs who wish to grow.