CRIF Realtime announced it has partnered with business finance platform Finpoint to accelerate the lending process for SMEs.
The credit risk company will now offer its open banking-powered credit scoring tool to Finpoint’s SME customers.
The Credit Passport is a portable credit file designed specifically for SMEs, which uses open banking, AI and machine learning to provide up to date information of a businesses’ performance.
Glen Keller, chief product officer of CRIF Realtime, said: “We are really excited about our partnership with Finpoint which we believe will help SMEs navigate the current economic challenges and achieve their business’ full potential.
“SMEs with access to a Credit Passport report and Finpoint’s business finance platform will be in a much stronger position to mitigate the damage caused by the pandemic and to focus on future business development and growth.”
Guy Bridge, chief executive of Finpoint, said: “Our partnership with CRIF Realtime is further evidence of our commitment to make a real difference to the SME sector by helping companies access the best funding choices for their businesses.
“Credit Passport is the perfect tool to underpin this commitment as it provides accurate information on a company’s performance using real time data – benefiting the company and helping lenders. It perfectly complements the 24/7 service we provide to SMEs as part of our business finance platform.”