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Codat Joins Innovate Finance

By Codat on 5/02/20

Codat – A UK based technology company that allows financial service providers to easily access contributed accounting data from their small business customers join the Innovate Finance community

UK Fintech Codat has joined Innovate Finance in the hopes of driving forward their shared mission to making finance more accessible for small businesses in 2020.

Through the Codat platform, small business accounting data can be standardised and then fed into their individual credit risk model or decision engine, allowing them to make fast and accurate lending decisions based on accurate and up-to-date data as opposed to just relying on outdated information from Companies House.

Small businesses will be able to access funding in a faster, fairer and more secure manner. Rather than printing, scanning and sending over various documents to prospective lenders they can simply click a button to sync the data contained within their accounting package. The possibilities with access to this data are endless as is the innovation.

Pete Lord, Codat’s CEO said, “Codat and Innovate finance both have a forward-thinking approach to innovation as well as a commitment to wider financial inclusion. Fintechs that focus on purely servicing businesses have grown tremendously in recent times, Codat allows these providers to better serve their customers by easily accessing the SME’s accounting data and therefore fully understanding their financial position – which in turn allows them to be more inclusive”.

Joining the Innovate Finance community will help to foster key partnerships between Codat and those Financial Service Providers and in turn power the small business economy.

Codat joins current members including Accenture, Barclays, Blackfin, CitiGroup, Curve, Yodlee, Funding Options, Habito, Monzo, OakNorth, Plaid, RateSetter, Revolut, Starling Bank, Square, Tide and Yolt.

www.codat.io

ENDS

Catherine Laurence for Codat
Tel: 07876684241 / Email: c.laurence@codat.io

About Innovate Finance

Innovate Finance is the independent industry body that represents and advances the global FinTech community in the UK. Our mission is to accelerate the UK’s leading role in the financial services sector by directly supporting the next generation of technology-led innovators. Innovate Finance’s membership ranges from seed stage startups and global financial institutions to investors, professional services firms, and global FinTech hubs. All benefit from Innovate Finance’s unique position as the single point of access to promote enabling policy and regulation, talent and skills, business opportunity and growth, and investment capital.

By bringing together and connecting the most forward-thinking participants in financial services, Innovate Finance is helping create a global financial services sector that is more transparent, more sustainable and more inclusive.

About Codat

Codat makes data integration seamless for the small business economy. We are the pipes that connect small business data, whether that’s a lender pulling information from a company’s cloud accounting package, or a payment terminal immediately pushing sales information into company accounts.

We’re building an eco-system of connected datasets that means small businesses are finally seeing the benefit of real innovation, with better products and services.

Through our single API, financial service providers can easily access consented. contributed data from their small business customers.