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Better, faster data leads to better, faster lending. A simple yet unquestionably true equation when it comes to offering loans to SMEs.
You can’t benefit from raw data unless it’s turned into insight, and unless you’ve got an in-house data science team and machine learning capabilities, there’s not much you can do with it. That’s when you need a data enrichment tool.
As lenders and borrowers navigate the current mortgage crisis, it’s well worth exploring how open banking can provide much-needed support.
Find out how Yapily helped Salad Money improve the financial wellbeing of their customers with access to real-time data.
Around 100,000 SMEs and £4bn worth of applications are rejected for finance every year. How can lenders leverage open banking to reimagine the business-lending process?