Equiniti Riskfactor and Codat have announced an SME lending partnership The partnership will see Equiniti Riskfactor and Codat allow SME customers to automatically share data with their lender, speeding up decision making.
Equiniti Riskfactor will connect with Codat’s single API to digitise data collection for its clients, enabling small businesses to share data automatically, reducing manual processes and improving customer experience. This dynamic risk assessment allows lenders to make faster and fairer lending decisions and significantly reduces bad debts and fraud.
Michael Ellis, Head of Commercial at Equiniti Riskfactor said “I’m excited to announce our new partnership to the market and look forward to seeing our customers benefit from our new API which will enable lenders to manage risk more comprehensively, make quicker decisions, with more accurate real-time data. This in turn will create huge improvements for the SME customer who will no longer have to spend time on manual processes. “Continuously improving the customer experience is vital for our business and our unique partnership with Codat enables us to expand our risk proposition whilst strengthening our customer relationships.”
Matthew Hicks, Commercial Director at Codat said “Integration with accounting platforms is seen as an essential feature of commercial banking products by small businesses. By partnering with Codat, Equiniti Riskfactor is providing the kind of digital experience that small businesses have come to expect as consumers.”