Trade Ledger, a global leader in digital lending technology, and Bank of Queensland Group (BOQ) have entered a groundbreaking long-term partnership to revolutionize asset finance lending for small and medium-sized enterprises (SMEs) and corporate clients serviced by the Group's Finance division.

This landmark collaboration will modernize BOQ's asset finance lending ecosystem, delivering faster, seamless, and highly accessible financial solutions tailored to Australian businesses.

The partnership begins with replacing BOQ's legacy systems, digitizing the asset finance lending process, and streamlining operations to improve efficiency, broker and customer experiences. The new technology will deliver a streamlined digital experience for third-party introducers.

Powered by Trade Ledger and Microsoft's advanced AI platforms, the partnership creates a banking industry-first, hyper-automated IT infrastructure for initially the asset finance domain.

Craig Ryman, Chief Information Officer, BOQ, stated that "the outcomes of our partnership with Trade Ledger will signify a major leap forward in delivering agile and customer-focused asset finance solutions. With Microsoft's technology as the backbone, we're now positioned to create a fully digitized asset finance lending solution."

Martin McCann, CEO of Trade Ledger, added: "Together with BOQ, we're setting a new standard for asset finance lending by accelerating credit decisions and driving economic growth for SMEs. This is more than modernization – it's a step in the reimagination of SME asset finance lending in Australia, led by BOQ Finance."

Asset Finance is integral to BOQ Finance's business strategy. As a specialist asset finance provider in Australia, BOQ Finance plays a pivotal role in meeting the financial needs of SMEs and corporate clients. Investing in this sector and maintaining a market-leading offering is essential to our success.