Victoria, Canada, May 5, 2021 -- Nectarine Credit launches commercial credit application management software that includes integration with more than 10,000 banks. This makes the Victoria, BC-based fintech SaaS provider the only credit application management software in the world to offer direct banking integration for customer balance and cash flow checks.

Nectarine Credit allows manufacturers and distributors to send digital credit applications to prospective clients with just one click. Platform users can check customer financial health via bank balance and cash flow checks as well as automated vendor reference checks on payment history.

"Nectarine Credit has disrupted an entire industry with an innovative and ground-breaking solution to a common business problem," said Nectarine Credit Chief Executive Officer and Founder Alex Armitage. "With our launch, Nectarine Credit is making a never before available digital fintech credit application solution more accessible and affordable to an entire business segment -- small and medium sized companies."

Many manufacturers and distributors currently send credit applications over email and even fax, which is a slow and cumbersome process fraught with error and inefficiency. Nectarine Credit is an affordable solution for small and medium-sized companies to manage their customer credit applications on a secure and easy-to-use cloud-based software platform. 

Credit terms, also known as trade credit or vendor financing, is a common "buy now, pay later" payment system that most manufacturers, suppliers and distributors of physical goods practice. Credit terms are so commonplace that they account for trillions of U.S. dollars that firms are owed on any given day. That's a lot of trust between buyers and sellers, so having data to reduce credit risk and delinquent payments is key.

"More timely and accurate financial data is critical when extending credit terms and Nectarine Credit has filled a huge gap," Armitage said. "Simply put, our system is a game-changer for small and medium-sized companies looking to offer credit terms to buyers they haven't worked with before."

Nectarine Credit is a credit application management software provider and is owned by Victoria, BC-based Nectarine Capital Inc.