Simply Asset Finance enables payout in under eight minutes

Simply Asset Finance, the specialist SME lender, today announced the launch of a fully automated lending experience that enables customers and partners to complete the entire journey – from application through to payout of funds – in under eight minutes.

The new customer journey marks the first live deployment of an automated, end-to-end lending process in the UK asset finance space. Powered by Simply Asset Finance’s digital AI agent, Kara, the functionality integrates with Simply’s relationship-focused model to deliver speed without sacrificing personal service.

Underpinned by Simply’s API-first approach, Kara sources and analyses data across sales, underwriting, and payout touchpoints, enabling rapid decisioning and compliance checks within minutes. This streamlined process delivers tailored lending solutions while significantly improving efficiency for both customers and partners.

The rollout will initially be available to a select group of Simply’s vendor partners with approved lines of credit, enabling them to draw down against facilities and purchase assets with on-demand support from Simply’s lending experts. Early proof points indicate the new functionality can reduce payout times by up to 85%, helping businesses keep operations moving and avoid disruption typically caused by delays in accessing funds.

The next phase will extend the automated journey across Simply’s wider partner and customer base, driving efficiency across all products by reducing administration and accelerating the delivery of funds.

Ylva Oertengren, Chief Operating Officer at Simply Asset Finance, said: “From the start, Simply was founded to challenge the sector and focus on customer growth, not just balance sheets.

“For too long, SMEs have had to contend with long, complicated application processes that take time away from growing their businesses. This launch takes our commitment to a new level. By supplementing our digital capabilities with the AI embodied in Kara, we are breaking new ground to deliver a massive step up in customer experience and set a new standard for speed and efficiency across the industry.”

John Wiles, Managing Director at Simply Asset Finance, added:

“This initial deployment with our vendor partners has been critical, proving how this fully automated journey enables our strategy to scale funding distribution efficiently through our partners. This technology operates on our ‘handshake principle,’ seamlessly integrating our digital capabilities to enhance our personal approach.

“Our aim is to support our people and strengthen the relationships that are crucial in SME lending, driving efficiency across the industry and ensuring Simply grows as our customers succeed.”