 Of the businesses which have been declined by the high street banks, less than 24 percent have been referred to the Designated Platforms.The bank referral scheme imposes a statutory duty on selected UK high street banks to pass on businesses who have been unsuccessful in applying for finance to the three designated alternative finance platforms, who will then email or phone the businesses to offer their service.If a business chooses to interact with any of the finance platforms they fill in a few questions and the finance platform runs the data against their panel of finance providers to see if there are any potential matches.