Lately, fintech companies are proving to be a game-changer in the banking and financial services sector of many countries by enabling SMEs and small exporters to get easy access to the most suitable trade financing options at the right time – precisely when they need it. Because of this development, the trade finance gap that was disproportionately higher in the SME sector has decreased significantly. Thus, fintech solutions have enabled SMEs to optimize their cash flows without providing collateral or a letter of credit. Furthermore, SMEs can now apply for finance in five minutes and get the much-needed cash in their account 48 hours later.
