Ulster Bank is introducing new digital platforms for its business customers, as it continues to develop its digital capabilities.

The bank's business customers can now log on to its website and after answering a few simple questions they can receive a real-time credit decision and accept their loan offer digitally on screen - 24 hours a day, seven days a week. 

Ulster Bank said this process applies to customers who are looking for an unsecured small business loan, an overdraft or an agri stocking facility, of up to a maximum of €50,000. 

It said it will mean a quicker and simpler application process for customers who are registered for Anytime Banking - and could potentially reduce the loan lending process to just 48 hours.  

Ulster Bank said the new digital platforms also allow new and existing business customers to apply through its website for current accounts and upload all of their required information and documentation digitally, including their ID and address verification documents.

Customers will have full visibility of their application status through the process, it added.

Eddie Cullen, Managing Director of Ulster Bank's Commercial Banking Division, said the need and demand for digital services among its customers has increased significantly throughout the Covid-19 pandemic.

"As a result we have accelerated our digital capabilities to support them. We expect that to continue in the weeks and months ahead," Mr Cullen said.