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

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). pp. 29-53.

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.

Item Type:Article
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Status:Peer-reviewed
Publisher Web site:https://doi.org/10.1007/s40804-019-00139-x
Publisher 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.
Date accepted:01 September 2018
Date deposited:28 September 2018
Date of first online publication:22 February 2019
Date first made open access:No date available

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