Zafin and Codat partner to empower FIs to offer personalized services to SMBs

By Pavithra R

Zafin, a banking software enterprise platform company that provides relationship-based pricing to banks and financial institutions, has announced partnering with Codat, a technology company that enables small businesses to seamlessly share business and financial data with financial institutions (FIs).

Through the collaboration, banks and credit unions will gain access to the data needed to serve more efficiently and to personalize the products and pricing provided to SMBs.

“Providing next-level personalization is a key component of what both Zafin and Codat offer global financial institutions. This collaboration allows financial service providers to understand and present hyper-personalized recommendations to their SMB customers more effectively. We can now enable bankers to play a crucial role in promoting the wellbeing of their SMB clients,” said Thomas Schickler, EVP and Chief Operating Officer of Zafin.

Codat’s API connects several of the leading accounting packages, point of sale solutions and payroll platforms used by SMBs to decisioning systems such as Zafin used by financial institutions. Zafin’s cloud-native SaaS product and pricing platform are layered on top of banks’ legacy core systems. The platform provides a comprehensive view of the customer and the ability to build new products and pricing.

The Codat-Zafin integration delivers a superior customer experience by enhancing the depth of data available to a bank or credit union and streamlining financial reviews and workflows. The partnership improves the bank’s ability to offer product packages better suited to an SMB based on a clearer understanding of their business stage and unique financial needs. The alliance will also provide detailed cash flow information to FIs and enable them to offer suitable products and pricing.

“Zafin’s approach to personalization is well established in the banking space and is a perfect fit for our technology. Our mission is to make the lives of small businesses easier and enable suppliers to small businesses, through a single standardised API, to connect with the software packages SMBs use. We look forward to seeing many more SMBs and financial institutions together flourish as a result of this partnership,” said Peter Lord, CEO & Co-Founder of Codat.