This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.
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1. THE BEGINNING
This innovation initially came to life when…
Having worked in finance for 15 years, I watched small businesses struggle to access capital in a fast, safe and secure way. Traditional banks would turn them away or take weeks to process a loan. This made it difficult for SMEs to take on opportunities or simply stay in business during seasonal fluctuations.
That’s why I decided to do something about it. I created Sail, a lending platform that analyses big data in real-time to offer customised lending decisions. We accurately assess the risk, offer funds by the next day and keep SMEs safe with market-leading security features.
2. WHAT & HOW
The purpose of this innovation is to…
Make finance more accessible for more businesses. Use the latest technology to quickly and accurately assess risk and get businesses the funds they need as soon as possible, in a way that provides greater security and assurance.
It does this by…
Using a unique algorithm developed by our team in Tel Aviv to better assess business owners’ risk profile and growth potential, and incorporating security features that enable forensic level detection of fraud.
We’ve also launched a new biometric security solution that uses a simple selfie and facial recognition technology to confirm users’ identity and location against official forms of ID.
3. PURPOSE & BENEFITS
This innovation improves on what came before because…
SMEs are seriously underserviced by traditional banks. With rigid credit requirements and often having to use their family home as security, SMEs can’t easily access the finance they need to grow.
Nearly 1 in 5 SMEs have experienced some sort of cyber attack. It is critical to ensure the accuracy and security of sensitive loan information to protect business owners.
Its various benefits to the customer/end-user include…
Small business owners get the funds they need, faster than ever and with the assurance that their financial and personal data is protected. This brings business owners peace of mind. Ultimately the solution is quicker, more reliable and more competitive.
4. COMPETITIVE LANDSCAPE
In the past, this problem was solved by…
For many business owners, it was a problem that had no solution. Traditional banks are often unable to offer loans without collateral, years of financial information and a long trading history. With Sail, business owners can opt for a slightly higher cost of finance in order to not risk losing their assets or being cut out of the process altogether.
Its predecessors/competitors include…
We’re filling a gap and serving a part of the market that is currently underserviced by the banks. The adoption of alternative lenders has increased significantly in Australia and we are differentiating ourselves with world leading biometric security features.
5. TARGET MARKET
It is made for…
Small to medium sized businesses and entrepreneurs looking to access the funds they need to innovate, expand, hire staff, or better manage their cash flow. Businesses no longer have the time to wait for lengthy loan decisions. Also, the rise of e-commerce, cloud solutions and software-as-a-service (SaaS) means that many businesses do not have valuable physical assets (such as heavy equipment or inventory) to offer the bank as security. We are empowering business owners to continue succeeding and growing. There are no hidden fees, and no early repayment fees which is a huge value proposition for SME owners.
It is available for sale through…
An online application that takes 5-10 minutes. You connect your cloud accounting, business bank account and tell us a bit about your business. A lending decision is reached within 24 hours and the funds are deposited the following business day.
Our marketing strategy is to…
Focus on filling the gap in the market for SMEs. We continually look to add value by providing a great, personalised service through ease of application, speed, security and transparency of repayments. Crucial to our business model is the constant contact and support throughout the lifecycle of the loan, not just at the points of transaction.
FINE PRINT: This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.
