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Validis and PayNet partner to improve lending experience for SMBs

Joel Curry, CEO of Validis

London-based cloud FinTech company Validis, as well as US-based PayNet an Equifax company which is a provider of commercial credit risk underwriting and management solutions to online and alternative finance lenders have announced their partnership.

This partnership between the two credit analytics companies will 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.

Joel Curry, CEO of Validis commented on the partnership, “Small businesses are a crucial part of the U.S. economy and have become a key focus of the lending market.  To support growth within this market, our partnership with PayNet will be invaluable for lenders, combining technology from two industry-leading organizations to provide lenders with a comprehensive view of an SMB borrower’s financial health. We are changing how lenders access the right data to make faster, more informed decisions. We look forward to working with PayNet to expand access to this critical offering.”

PayNet will integrate and leverage Validis’ technology platform, DataShare into its suite of solutions in order to solve the outdated process of lenders manually gathering, sharing and analyzing applicants’ financial statements. As a result, lenders will significantly see a reduction in their TAT.

DataShare is Validis’ proprietary platform which provides a secure data pipe that extracts and delivers financials in real-time with easy consumption. It enables borrowers to share their data directly from the DataShare platform and it enables lenders to make a credit risk assessment of the same.

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