validis

Joel Curry, CEO of Validis

UK-based AccountScore, the AISP accredited Open Banking platform, and Validis, the financial data sharing, and standardization expert, have partnered to deliver transparent financial services for small and medium businesses in the UK.

Joel Curry, CEO of Validis, said, “We are excited to sign this partnership agreement with AccountScore. For too long financial institutions were only seeing individual pieces of the puzzle, but now they will have access to all the data, all in one place. A truly innovative step forward for small business financial services.”

This Open Banking partnership has been formed to enable SMEs in the UK to get access to a clear financial view of their clients. Small businesses can now share their financial data at a single go. Banks can visualize this data through a single, interface as part of financial processes such as loan origination.

The partnership enables the aggregation of bank transaction data, public business and credit information, and management account data. The nature of these datasets, such as the ability to use management account data to verify bank transaction data, adds a layer of value to financial institutions processes that haven’t been available previously.

Validis digitally connects commercial lenders and accountants to their customers’ accounting applications, standardizing the data and autogenerating financials. Their API suite provides depth and structure of the data delivered and powers auto decisioning and greater insight.

Validis is headquartered in the United Kingdom with offices in North America.

Earlier this month Validis had entered a similar kind of partnership with Paynet where lending experience improvement was the area of concern. The main aim of this partnership was to enable financial institutions to collect financial data from applicants at the click of a button which will reduce the lenders TAT and accelerate decision making.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
imp-loader
Scroll Up