NatWest launches new lending app

New app allows bank staff to give instant indicative quotes, any time, any place.

NatWest small business customers can now get instant, comparable lending quotes from the bank wherever they are, thanks to a new iPad lending app.

The new app, which needs just a few customer details, allows relationship managers to give instant indicative borrowing costs in around 30 seconds. It lays out and compares different borrowing options side by side.

The app does not require internet connectivity to provide quotes so relationship managers can quickly give customers indicative options, even if they are visiting them in remote locations. Rates information is regularly updated ensuring customers receive the most up-to-date quotations.

Marcelino Castrillo, managing director of business banking at NatWest, said:

“The app provides convenience and flexibility for customers. It speeds up a process we thought was too slow, while giving our people more time to spend helping customers. We challenged a team of experts to come up with something quick and accurate that could be used anywhere, at any time, and this app is the result.

“We have also removed set up and early repayment fees on our loans up to £500k to make borrowing simpler and more transparent. We hope this will encourage more customers to consider business growth opportunities, with the peace of mind of a fixed rate and the flexibility to repay any time at no cost.”

NatWest recently announced a new team of ‘Business Growth Enablers’ to provide skills and guidance to businesses. This team of 73 will each host weekly education events for local business communities, covering topics from importing and exporting to cyber security, with the aim of providing face to face support to more than 60k customers this year.