ThinCats, Salt Edge to bring Open Banking benefits to SME lending

Wednesday 11 November 2020 12:20 CET | News

UK-based ThinCats, an alternative lender to mid-sized SMEs, has partnered with Salt Edge, a company offering Open Banking solutions. 

The collaboration with Salt Edge will enable ThinCats to build up its Open Banking dataset to support its customers through earlier identification of changing circumstances or additional funding needs. Data aggregation will help ThinCats to integrate real-time information in its credit decisioning and portfolio monitoring.

Salt Edge’s Data Enrichment solution will upgrade ThinCats’ data models with actionable insights, that will help shorten the funding process for borrowers. Salt Edge were able to provide a portal-based trial in a couple of days, which enabled ThinCats to test both the technical aspects of the service and the usefulness of outputs.

Salt Edge is a financial API platform with PSD2 and open banking solutions. The company has two main vectors of activity: enabling third parties to get access to bank channels via a unified gateway and developing the technology necessary for banks to become compliant with the directive’s requirements.

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Keywords: ThinCats, Salt Edge, partnership, Open Banking, SME, PSD2, banks, lending, credit, funding
Categories: Banking & Fintech
Countries: United Kingdom
This article is part of category

Banking & Fintech

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