Atom Bank Partners with FinTech to Boost Lending
(05 March 2021 – United Kingdom) Atom bank, the United Kingdom’s (UK’s) first licenced Neobank, has formed an alliance with Credit Kudos with the objective of improving lending facilities to UK enterprises.
The partnership will open the doors for better open banking capabilities and enable £1 billion of lending over the next two years. Credit Kudos will also provide the bank with automated technology, enabling real time decisions and better customer experiences compared to traditional manual processes.
Credit Kudos’ open banking technology enables lenders to access a real time view of their current financial position, enabling lenders to offer the most appropriate lending solution at the right time.
“Our partnership with Credit Kudos will allow us to further expand the range and accelerate the pace of our lending. We’re delighted to be working with another Financial Technology (FinTech) challenger to bring insights based on open banking data into the heart of Atom’s decision making” commented Atom Bank Chief Customer Officer, Edward Twiddy
“Over the past year it’s been increasingly difficult for lenders to understand the current financial situation of individuals and businesses. Traditional credit reports are not up-to-date or extensive enough, but open banking data allows us to provide lenders with a real-time, holistic overview of an individual or businesses’ finances, as well as a prediction of future circumstances” commented Credit Kudos CEO, Freddy Kelly.
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