By Oliver Smith on Wednesday 11 December 2019
New Funding Options CEO Simon Cureton says the move will make borrowing more “efficient”.
Business finance marketplace Funding Options has announced a partnership with Validis, the provider of open accounting data analytics.
The deal will see Funding Options use Validis’ technology to speed-up the process by which SMEs have to prepare their accounting data when applying for external funding.
“Crafting a seamless lending journey for our customers is one of our core values.”
Using Validis data, combined with Open Banking and credit bureau data, Cureton says Funding Options will be able to enable better-informed lending decisions.
The move will also support Funding Options move towards supporting the back-office functions of SMEs, including automating borrowing decision making and identifying areas of business risk.
“As financial services become increasingly digital, making sure all aspects of the lending journey are as efficient as possible is a crucial step.”