HSBC Bank USA, N.A., part of HSBC Group, is working with Biz2Credit and using its Biz2X Platform to speed up the approval of small business credit applications for its HSBC Fusion service, according to a press release.
HSBC Fusion is a service for business owners that brings business and personal banking together for a more streamlined way of working and living. The Biz2X Platform’s credit decisioning engine is based on artificial intelligence and a configurable lending rules engine that provides faster and more accurate credit decisions. Additional benefits of the platform include:
- The ability to automatically approve loan or line increase requests up to $100,000.
- Coverage of origination and credit line increases for small business credit products, including credit cards, term loans and lines of credit.
- Ease-of-use for HSBC staff processing loan applications through a new staff portal built on Biz2X.
- Credit rules that feature advanced neural network models to ensure fast loan decisions.
“Our partnership with HSBC Fusion opens the flow of capital to small business owners. Through this offering we are helping entrepreneurs bolster their finances, save time and gain quick, easy access to capital,” Rohit Arora, CEO of Biz2Credit and Biz2X said in the release. “For Biz2Credit, it represents another step in the growth of our Biz2X Platform globally.”