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Video transcript

Innovation in debt

The loan market really relies on confidence of borrowers to come and borrow. Brexit earlier this year caused a bit of a pause in the market, but have banks stopped funding at anytime? No.

Has liquidity been there? Most certainly. So from innovation - innovation takes many forms. Innovation can be through technology and that can be through our smaller clients being able to access loans by their smartphone.

Innovation in lending could also mean, for example, how we interact with solicitors, if you're buying or selling a house it's always between the funder, the solicitor and the seller or buyer. Innovation enables us to make that whole process transparent and cut that process not only in time but also in knowing who's got to do what and when.

I would always encourage borrowers and companies to come to their banks at the earliest opportunity. The earlier that the dialogue commences the earlier we can work together to find the right solution that suits the needs.

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