Simply Asset Finance, the specialist SME lender, today announces it has launched a fully automated lending experience. Integrating seamlessly with Simply’s personal, expert-led approach the new functionality allows customers and partners to complete a lending journey, from application through to payout of funds, in under eight minutes.

Powered by Simply Asset Finance’s digital AI agent, Kara, the functionality represents a first of its kind, end-to-end automated lending solution for the UK asset finance industry. Underpinned by Simply's API-first approach, Kara sources and analyses data across sales, underwriting, and payout touchpoints, ensuring all necessary decisions and compliance checks are verified within minutes.

The new functionality will initially be rolled out to a select number of Simply’s vendor partners with an approved line of credit. This will enable them to draw down against an approved facility and purchase assets, with on-demand support from Simply’s lending experts.

Early proof points suggest the functionality will help to reduce payout times by as much as 85%, enabling businesses to keep operations moving quickly, while avoiding disruption typically experienced when waiting for funds.

The next phase of the rollout will see Simply’s wider partner and customer base benefit from the functionality, driving efficiency across the all products by reducing admin, and supporting faster delivery of funds.

Ylva Oertengren, COO at Simply Asset Finance, says: “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 make do with long, complicated application processes, taking them away from focussing on 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. This has the potential to fundamentally reshape expectations and set an essential new standard for speed and efficiency across the entire industry.”

John Wiles, Managing Director, Simply Asset Finance, says: “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.”