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‘Undisruption’ in the SME funding market: information sharing, finance platforms and the UK bank referral scheme

Schammo, P.

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Abstract

Since the financial crisis, various policy initiatives have been adopted in the UK with a view to improve access to finance for SME businesses. One of these initiatives is the bank referral scheme. Under this scheme, incumbent banks must pass on information about SMEs (with an SME’s consent) that were unsuccessful in securing bank funding, to so-called finance platforms whose role is to match SMEs with alternative lenders. The scheme received attention in the UK and elsewhere as an innovative way to combine information sharing and technology in order to help SMEs gain access to external finance. It was launched in 2016. Since then, it has been closely monitored by the UK Treasury. The aim of this article is to reflect on the bank referral scheme and its raison d’être, especially by focussing on the regulations which implement the scheme, and on potential ways to improve the referral process.

Citation

Schammo, P. (2019). ‘Undisruption’ in the SME funding market: information sharing, finance platforms and the UK bank referral scheme. European Business Organization Law Review, 20(1), 29-53. https://doi.org/10.1007/s40804-019-00139-x

Journal Article Type Article
Acceptance Date Sep 1, 2018
Online Publication Date Feb 22, 2019
Publication Date Mar 31, 2019
Deposit Date Sep 27, 2018
Publicly Available Date Mar 19, 2019
Journal European Business Organization Law Review
Print ISSN 1566-7529
Electronic ISSN 1741-6205
Publisher T.M.C Asser Press
Peer Reviewed Peer Reviewed
Volume 20
Issue 1
Pages 29-53
DOI https://doi.org/10.1007/s40804-019-00139-x

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http://creativecommons.org/licenses/by/4.0/

Copyright Statement
© The Author(s) 2019. This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made.





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