FIN.

BoE looks at open platform for SME finance

BoE has published its views on developing an open platform for SME finance. It says that a global identity standard and safe information sharing could harness novel data sources and advanced analytics to provide SMEs with better choice of and access to finance.

Key parts of the initiative will include integrating the LEI in the new RTGS service and mandating its use in payment messages and developing “portable credit files”.

Emma Radmore