Thursday, 18 July 2019 09:09

Waddle completes trial of rapid cash platform with Royal Bank of Scotland

Waddle completes trial of rapid cash platform with Royal Bank of Scotland Image adamr,

Australian lending fintech Waddle says it has successfully completed a six-month pilot partnership and trial of its NatWest Rapid Cash platform with The Royal Bank of Scotland Group.

The NatWest Rapid Cash product is built on Waddle’s core working capital platform, which has been customised to meet the local UK market and enterprise bank requirements.

Waddle says the successful implementation means RBS is one of the first banks globally to offer an automated working capital solution to its customers.

And Waddle says the pilot to date has resulted in more than 400 client applications and in excess of £10 million in funds extended, with plans now underway to scale the product throughout the RBS customer base.

Under the deal, the Rapid Cash platform integrates with the SMEs’ accounting software to remove the administrative effort involved with traditional working capital facilities.

And Waddle says an indicative quote can be obtained in just a few seconds, with the credit limit adjusted ongoing in real time as invoices are raised and paid by the business.

“When RBS reached out 12 months ago, it was immediately obvious that we shared a similar vision on the future of working capital products in the SME space,” said co-founder of Waddle, Simon Creighton.

“The combined RBS-Waddle team were able to come together across geographies and deliver a bank branded product within a four-month delivery timeframe. That speaks volumes in itself and something I am really proud of the combined team for.”

Creighton said the Waddle platform will allow RBS to automate its operational processes and move to a real-time approach to portfolio management, with efficiency gains allowing the bank to be the price leader within the space.

“The international nature of this partnership introduced new challenges we’d not faced before. Creating quality software requires a strong collaborative process and doing this across time zones is hard,” said co-founder of Waddle, Nathan Andrews.

“Technically, some of the initial decisions we made around contemporary cloud tools and scalable software architecture put us in good stead. These lean tools and processes created a platform that could support our core engineering team. Our team has been incredible and is the main reason for our success so far.”


You cannot afford to miss this Dell Webinar.

With Windows 7 support ending 14th January 2020, its time to start looking at your options.

This can have significant impacts on your organisation but also presents organisations with an opportunity to fundamentally rethink the way users work.

The Details

When: Thursday, September 26, 2019
Presenter: Dell Technologies
Location: Your Computer


QLD, VIC, NSW, ACT & TAS: 11:00 am
SA, NT: 10:30 am
WA: 9:00 am NZ: 1:00 pm

Register and find out all the details you need to know below.



iTWire can help you promote your company, services, and products.


Advertise on the iTWire News Site / Website

Advertise in the iTWire UPDATE / Newsletter

Promote your message via iTWire Sponsored Content/News

Guest Opinion for Home Page exposure

Contact Andrew on 0412 390 000 or email [email protected]


Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).



Recent Comments