Mastercard partners with upSWOT

Tuesday 17 January 2023 12:19 CET | News

Mastercard has partnered with upSWOT, a US-based white-label embedded financial platform, to add data for small businesses on upSWOT’s platform.

This action is made possible by the Mastercard Open Banking platform, whose services are provided by its subsidiary, Finicity.

Mastercard partners with upSWOT, a US-based white-label embedded financial platform, to add data for small businesses on upSWOT’s platform.


With the addition of Open Banking features, upSWOT's platform now gives small business users the ability to link owner-permissioned financial data to 200 API-enabled apps. These include accounting, enterprise resource planning (ERP), payroll, ecommerce, Customer Relationship Management (CRM), marketing, and POS business applications.

As a result, small businesses now have access to a wider range of services, as well as thorough understanding that can help them make wiser business decisions. In particular, US banks will learn about the collaborative solution from upSWOT and Mastercard. By combining their strengths, the companies will be able to provide small and medium-sized businesses (SMBs) with a smooth and effective approach to run their operations.

This partnership's combined solution will assist financial institutions' clients in improving the lending and business management results for their SMB customers by providing pertinent financing offers and timely actionable data like cash flow predictions at the appropriate points in the SMB customer journey.

The new features

Credit boost: enables companies to exchange information with credit bureaus, who then raise their credit score as necessary.Insights: analyses several app data sources to produce concrete actions the company can take to enhance productivity and profitability. Additionally, businesses will have access to related real-time analytics.

Cash flow forecasts: gives organisations the option to view their anticipated cash inflows with sensitivity analysis and modeling to assist them evaluate the impact of upcoming financial changes.

Bank reconciliation: automatically transfers business transactions from their bank to their accounting app and classifies them.

Cash management: aggregates all invoices, bills, and subscriptions for the business and provides access to all of the business's banking accounts at various financial institutions. letting people know when money will be due.

Business valuation: provides an evaluation and estimated market value for enterprises. The outcomes can be contrasted with those of publicly traded enterprises.

Funding access: gives companies access to credit options that are suited to their current needs.

Ecommerce performance: sales statistics and insights are provided by connecting to POS and ecommerce platforms.

upSWOT’s recent developments

UpSWOT collaborated with two other businesses in 2022. The first one had the goal of starting a pilot program in Singapore to provide Standard Chartered's SMB clients with the ability to forecast intelligently on a single digital platform.

After enrolling in this trial initiative, SMB clients of Standard Chartered could link the business apps they use with upSWOT, allowing the fintech startup to produce real-time insights and dashboard analysis using the data gathered. SMBs can make better business decisions on cash flow planning, marketing and sales strategies, and financing needs such as working capital and credit lines with increased visibility of their cash flow, inventory, and return on investment.

Likewise, upSWOT and Cion Digital have teamed up to provide embedded finance capabilities to help wealth managers and commercial loan brokers better serve SMBs. By receiving timely managerial insights across their portfolios and providing assistance and pertinent funding at the appropriate points in an SMB's journey, Cion's institutional clients will be able to better manage their customer relationships.

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Keywords: partnership, Open Banking, data, embedded finance, SMEs
Categories: Banking & Fintech
Companies: Mastercard, upSWOT
Countries: United States
This article is part of category

Banking & Fintech




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