Banyan Infrastructure Collaborates with NatWest to Utilize Technology Innovation to Accelerate Investment in Green Infrastructure
September 12, 2023 — Edinburgh, Scotland and San Francisco, Calif. — Banyan Infrastructure (Banyan) announced the completion of a proof of concept with NatWest today, showcasing how Banyan can accelerate NatWest's impact and growth into sustainable infrastructure markets. Banyan Infrastructure is a project financing software platform that increases deal velocity and streamlines the lending processes for renewable energy and other sustainable infrastructure projects.
In October 2021, Banyan Infrastructure won the Sustainability category of the Global Open Finance Challenge, which allowed the opportunity to deliver a ground-breaking prototype of its software for NatWest. The collaboration started as NatWest sought innovative ways to help their customers make better decisions around climate and sustainability.
"NatWest has a target to provide £100 billion in climate and sustainable funding and financing by the end of 2025. Sustainable infrastructure projects will make a big contribution to that target, and we are always interested in solutions which can increase efficiency and improve the customer experience," said Adam Pollock, Senior Innovation Manager at NatWest. "Collaborating with Banyan on this proof of concept helps us stay on the forefront of innovation in the banking industry."
The Banyan Infrastructure platform is well-suited to address a sustainability initiative and to help NatWest customers transition to renewable and sustainable resources by reducing the time projects are in bank review, meaning more capital for renewable projects faster.
"Banyan Infrastructure is proud to collaborate with NatWest to power renewable infrastructure transactions," said Amanda Li, COO at Banyan Infrastructure. "We are excited to accelerate transaction speeds and improve their customer experience in the exploding sustainable infrastructure market."
Banyan's technology solves critical pain points by replacing spreadsheets, emails, and varied data sources with fully digitized assets and enterprise-grade workflows. The platform automates each loan's data ingestion, risk monitoring, and contractual compliance. Financing is faster, with more significant capital deployed and dramatically lower overhead costs, resulting in more efficiency, scale, and liquidity across the entire deal lifecycle.
Banyan recently announced $25 million Series B funding to accelerate the growth of its project financing software. The company plans to more than double its headcount and develop its proprietary software in response to high demand. Today, the Banyan platform powers billions of dollars in assets under management in sustainable infrastructure.
About Banyan Infrastructure
Banyan Infrastructure is a project finance software platform designed to simplify, accelerate, and optimize sustainable infrastructure financing across the deal life cycle. Our solution oversees and automates the complex and time-consuming processes in the origination, underwriting, and portfolio management of sustainable assets, which boosts profits per investment, increases deal velocity, and saves thousands of hours at every stage. Visit banyaninfrastructure.com or follow us on LinkedIn for more information.
NatWest Group is a relationship bank for a digital world. We champion potential, breaking down barriers and building financial confidence so the 19 million people, families, and businesses we serve in communities throughout the UK and Ireland can rebuild and thrive. If our customers succeed, so will we.