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Loanspark expands partnership with Mastercard, MidDesk, & LexusNexis

By Delisha Fernandes

May 19, 2023

  • Bank Accounts
  • borrowers
  • Business

Loanspark partnered with Mastercard, Middesk, and LexisNexis to enhance, speed up, and secure service delivery for business customers.

Michael Barnett, Founder and CEO Loanspark, said these partnerships were vital to Loanspark’s mission. He said, “We are committed to bringing sanity, normalcy, confidence, and compliance to the SMB lending landscape. Integrating Mastercard, Middesk, and LexisNexis into our processes is in the best interest of our co-branded partners and their business customers.”

Barnett added “Security, trust, and compliance are not a one-way street. We must all work together to ensure things are done the right way. It’s on all of us to end dubious business practices that have no place in the financial industry.”

A partnership with Mastercard enables the company to leverage Mastercard’s open banking platform, with some services delivered through its subsidiary, Finicity, allowing businesses to establish direct consumer-permission connections with their customers’ bank accounts.

With Middesk’s business identity platform, Loanspark accurately verifies its co-branded partners. To ensure compliance, security, and trust, Loanspark only partners with authorised US companies. Business identity data from Middesk ensures Loanspark continues to onboard the right co-branded partners.

LexisNexis is a part of the RELX corporation, a global leader in information-based analytics, business intelligence, and decision tools. The company leverages LexisNexis’s trusted risk intelligence to analyse and validate borrowers on behalf of its co-branded partners.

True to Michael’s word, Loanspark is doing its part to clean up the commercial funding landscape by pulling all the stops to incorporate trusted resources into its FinTech processes.

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