Latest news with #MerchantFlexiLoan
Finextra
02-07-2025
- Business
- Finextra
BNZ accelerates credit access for SMEs with RDC.AI
(formerly Rich Data Co), a global leading explainable AI decisioning platform for business and commercial lenders, today announced its collaboration with Bank of New Zealand (BNZ) to launch the Merchant Flexi Loan, an innovative cashflow-based, unsecured lending solution that enables small businesses to receive tailored offers and loan approval in minutes. 0 Fast access to credit is essential for small businesses, which represent 97 per cent of New Zealand businesses,[1] enabling the flexibility and control to grow and thrive. Powered by advanced decisioning platform, the Merchant Flexi Loan application analyses terminal transaction data and cashflow history patterns to deliver tailored loan decisions - no financial statements needed. The platform also supports dynamic credit offers and embedded monitoring. This capability helps BNZ offer merchants the flexibility to choose repayments between 10-30 per cent of daily settled terminal sales, based on their business performance. This gives merchants control over their repayment schedule based on their business conditions. Eligible merchants can be approved in as little as three minutes and receive funds within two business days - setting a new benchmark for speed in the market. The loan is offered on a simple, one-off fee structure with no interest, providing cost certainty and transparency for small businesses. BNZ customers are already using the loan to support business expansion and equipment investment, citing its speed and ease of use as a welcome additional option in the lending market. Ada Guan, CEO and Co-Founder of said: "We're excited to collaborate with BNZ to support New Zealand's SME economy through this AI-driven merchant lending solution and launch an innovative cashflow lending structure. Our explainable AI empowers banks to offer businesses the financial flexibility, transparency and rapid access to capital they need to thrive. 'At innovative and accessible access to credit sits at the core of what we do. Limited resources and dependence on customer payments shouldn't hinder business growth - or potentially halt operations during a crisis when access to funds becomes critical. We're helping more businesses access innovative credit solutions and giving them better control over their working capital." Karna Luke, Executive, Customer Products & Services at BNZ, added: "Small businesses are the backbone of New Zealand's economy, and timely access to credit is critical for their operations and growth. Our Merchant Flexi Loans enable us to deliver swift, innovative, and responsive cashflow lending solutions that meet the evolving needs of our small business customers. We're delighted to offer this simple and flexible solution and provide customers with another option for access to credit during critical moments in their business." The BNZ Merchant Flexi Loan, powered by is now available to eligible merchant customers across New Zealand, underscoring BNZ and shared commitment to driving innovation and support for the SME sector.
Techday NZ
01-07-2025
- Business
- Techday NZ
RDC.AI & BNZ launch AI-driven cashflow loans for NZ SMEs
has announced a partnership with Bank of New Zealand (BNZ) to launch the Merchant Flexi Loan, a cashflow-based unsecured lending solution designed for small businesses. Loan approval in minutes The collaboration introduces a new model to SME lending in New Zealand, giving eligible merchants the opportunity to receive tailored loan offers and approval within minutes. Using explainable artificial intelligence decisioning platform, the solution enables businesses to access funds without the need for financial statements. The Merchant Flexi Loan leverages terminal transaction data and cashflow history to assess borrower eligibility. Dynamic credit offers and embedded monitoring also form part of the platform, allowing repayment terms to be adjusted in line with business performance. Merchants can select repayments of between 10 to 30 per cent of daily settled terminal sales, allowing for flexibility according to ongoing cashflow. According to and BNZ, qualifying applicants may be approved in as little as three minutes, with disbursed funds available within two business days. The product uses a one-off fee structure, with no interest charged, aimed at providing certainty and transparency for borrowers. Support for small business Small and medium enterprises (SMEs) represent a significant portion of the New Zealand economy, accounting for 97 per cent of all businesses, according to data from the Ministry of Business, Innovation and Employment. Fast access to credit is seen as an essential factor in supporting their ongoing operations and growth. BNZ has stated that its customers are already making use of the Merchant Flexi Loan, particularly for purposes such as business expansion and equipment investment. The bank attributes early adoption to the product's speed and ease of access, positioning it as an additional option within the lending market. Statements from and BNZ We're excited to collaborate with BNZ to support New Zealand's SME economy through this AI-driven merchant lending solution and launch an innovative cashflow lending structure. Our explainable AI empowers banks to offer businesses the financial flexibility, transparency and rapid access to capital they need to thrive. At innovative and accessible access to credit sits at the core of what we do. Limited resources and dependence on customer payments shouldn't hinder business growth – or potentially halt operations during a crisis when access to funds becomes critical. We're helping more businesses access innovative credit solutions and giving them better control over their working capital. Ada Guan, CEO and Co-Founder of outlined the objective of making lending more accessible for small businesses, emphasising that business operations should not be restrained by cashflow constraints or the need for immediate resources. Guan said the partnership with BNZ is intended to address these challenges directly through technology. Small businesses are the backbone of New Zealand's economy, and timely access to credit is critical for their operations and growth. Our Merchant Flexi Loans enable us to deliver swift, innovative, and responsive cashflow lending solutions that meet the evolving needs of our small business customers. We're delighted to offer this simple and flexible solution and provide customers with another option for access to credit during critical moments in their business. Karna Luke, Executive, Customer Products & Services at BNZ, noted that the launch responds to the needs of SMEs, describing the offer of a new lending product as a way of supporting businesses at key moments. Availability The BNZ Merchant Flexi Loan, powered by technology, is now available to eligible merchant customers throughout New Zealand. Follow us on: Share on:
Scoop
25-06-2025
- Business
- Scoop
BNZ Offers Flexible Business Loans Up To $50,000, Approved In Minutes
Small businesses can now access unsecured finance of up to $50,000 with BNZ's new Merchant Flexi Loan, with approval in as little as three minutes. It offers eligible businesses a simple way to manage cash flow and fuel growth, with no interest and just a one-off fee. Karna Luke, BNZ Executive for Customer Products and Services, says it delivers the speed and flexibility small businesses need to grow. "Our Flexi Loans give small businesses fast access to capital, without the need to provide paperwork like financial statements or business plans. Instead, we use actual card sales data from the past 12 months to determine loan eligibility and calculate a personalised loan offer. 'Businesses can see their personalised offer, choose their preferred repayment rate and get a decision in minutes. Once accepted, funds are available within two business days." Repayments are set at a rate chosen by the business, between 10% and 30% of daily card sales, and are automatically deducted. 'This means repayments are higher when sales are strong and lower when business is quieter, helping owners stay focused on operations with cash flow under control,' Luke says. Christchurch institution Waffle Haus takes advantage to expand business The benefits of this flexible approach are already being realised BNZ customers like Jamie Stewart. He already had a successful Waffle Haus café in Akaroa when he expanded to Christchurch, opening on New Regent Street in December 2020. Now, with both locations thriving, he's using BNZ's Merchant Flexi Loan to fund expansion into a third branch, set to open next month at The Colombo shopping centre. 'A lot of prep goes into opening a new location - it takes about a year to get everything in place,' says Jamie. 'When the Merchant Flexi Loan became available, the timing was perfect because I was looking at a significant equipment investment for the new café and wanted to preserve working capital for other business needs.' For Jamie, whose capital is invested in growing his business rather than property assets that could be used as security, the merchant sales-based approach offers a compelling alternative to traditional secured lending. Instead of needing collateral, the loan is based on his proven sales performance. The flat fee structure also appealed to Jamie: 'The fee worked out at about 2.5% of the loan amount, which is really good value and substantially cheaper than a traditional business loan.' With trading patterns that vary over time - busy evenings year-round, peak weekends and school holidays, plus seasonal fluctuations - Jamie appreciates having repayments that adjust accordingly. 'The winter period is slightly quieter for us than the summer and school holiday peaks,' he says. 'Having repayments that flex with our natural business rhythms makes financial planning much easier.' Fast funding when opportunities arise Karna Luke says timing is critical when business opportunities emerge, which is why the BNZ team has worked hard to make the process of applying for a Merchant Flexi Loan as fast and simple as possible. 'Our customers tell us they need to move fast to stay competitive and grow, whether that's securing new equipment, expanding their premises, or taking advantage of seasonal demand. By streamlining the application process and using data we already have, we can help them seize those opportunities without delay. 'It's about bringing together speed, simplicity and flexibility to make it easier to move quickly when opportunity knocks. We're proud to be the first New Zealand bank to offer a lending solution like this.'
