Credit: Panchenko Vladimir/Shutterstock.

UK-based independent finance intermediary Bluestone has partnered with Siemens Financial Services to offer an online finance platform that promises to expedite the lending process for businesses.  

As part of the alliance, Bluestone has integrated with Siemens Financial Services’s application processing interface (API). 

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The API is said to facilitate rapid auto-decision-making on finance applications, reducing manual processing time. 

This move is expected to transform Bluestone’s operational efficiency by automating the decision-making process for transactions and enabling the company’s staff to allocate more time to complex deals, potentially increasing productivity and focus on customer service. 

Established in 1996, Bluestone has been engaged in providing asset finance solutions to a diverse range of UK businesses.  

The company has a network of more than 1,200 vendors across various sectors, offering access to an extensive portfolio of specialist banks and funders. 

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Bluestone finance director Mark Hargreaves stated: “Bluestone has been working with Siemens Financial Services for over 30 years and over that time, we have transformed quite significantly as a business. Siemens is the first funder in our portal, as they are a relative pioneer in the field. The Siemens integration means that the funding application runs straight out of our system with no complications.  

“The links and data flows are all automated. Since we launched the platform, the throughput has been smooth both for us and for Siemens. Acceptance rates for applications are almost ten times as good as we had initially expected. It’s been revolutionary for our business – we are now snapping up many of the £5,000-£50,000 transactions that were previously slipping through the net.” 

Earlier this year, Bluestone took a significant step in making commercial finance more readily available to UK businesses with the launch of the Bluestone Portal.