SME Partnership of the Year 2024 nominee: Commonwealth Bank
We are unveiling the nominees for the SME Partnership of the Year Award, showcasing collaborations that have significantly influenced the SME ecosystem by fostering growth and innovation for businesses. Take the opportunity to acquaint yourself with this outstanding nominee and draw inspiration from their remarkable journey.
Cash flow is king and freeing up cash could be the difference for many small to medium businesses. Many businesses have a lot of capital tied up in receivables that they could turn into cash, something that cloud-based invoice lending platform Waddle, and CommBank looked to solve.
In June 2021, CommBank developed Stream Working Capital in partnership with Waddle to give businesses access to funds using their outstanding invoices as loan security. Stream Working Capital’s digital end-to-end solution is the first for a major Australian bank.
The solutions means that CommBank’s business customers no longer need to rely on traditional credit to meet cash flow needs – where fixed assets such as residential or commercial property are required to secure loans.
Fast forward to today where the innovative Stream Working Capital solution is empowering customers around Australia with faster access to cash flow to help run their business and accelerate growth.
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