Capalona, Nordigen to match SMEs with finance lenders

The company's bespoke-built transaction scanner looks for existing loans (such as COVID support loans), salaries, VAT, and gambling transactions. It quickly highlights cash flow, affordability, and risks, which allows for improved customer-to-lender matchmaking. Nordigen's Open Banking API saves users from uploading statements and allows Capalona to quickly verify cash flow and existing loans.

Using Nordigen’s API, Capalona’s platform allows customers to compare business bank account providers and find the best-fit bank account for their individual requirements. The result is that the platform allows customers to better manage their companies’ finances. Nordigen’s API is fully PSD2 compliant, so Capalona customers are secure. Overall, better access to customer Open Banking data means Capalona can provide in-depth information, such as eligibility criteria, benefits, features, and more.

Capalona will soon also use Nordigen's API for their bank account comparison engine. The company’s goal is to help their customers save time and effort when finding or switching to a new account. The engine will use free European Open Banking data from Nordigen to filter results.