Australian technology and digital transformation firm, Fintech Solutions and Services Global (FinSS Global) is delighted to announce a partnership with Uplinq, the first global credit assessment platform for SME lenders.
The partnership signifies the technology companies’ joint mission in helping banks and lenders deliver lending innovation and financial inclusion for their small business customers, the backbone of economies, across the globe.
Leveraging Uplinq’s unique and advanced AI/ML technology, which has served as a foundation for over $1.4 Trillion in underwritten loans globally, FinSS Global plans to incorporate the solution within its Small Business Lending Dashboard product and offer it to banks and lenders within the A/NZ market.
The new product will be known as the Credit Assessment and Business Lending Enterprise Dashboard (CABLED) and will aggregate data from multiple sources, such as bank accounts, accounting systems and government and industry sources, ensuring a complete picture of an SME’s financial health and lending/borrowing viability is available within one visual dashboard, greatly improving the accuracy and timeliness of the pre-approval process.
This technology will allow traditional SME Bank lenders to compete with FinTech and NeoBank competitors by maintaining and growing customer base, while also being able innovate, digitize, and build closer value-based relations with existing and potential customers. CABLED offers a better solution. It incorporates a multitude of data points, which will increase the data available for bank and lending decision-makers and ultimately benefit small business customers.
Speaking on the partnership, Dallas Newton, CEO and Co-Founder at FinSS Global, commented: “Our partnership with Uplinq is very exciting as it is a proven, global credit assessment platform for SME Lenders, that we believe to be a first here in Australia. CABLED development extends our Business Lending Dashboard products into something new and exclusive for the whole A/NZ region.
“The new dimension expands our capability by being able to leverage many additional data points from industry, government and commercial sources to better understand, beyond pure financial data, a borrower’s suitability for, and propensity to service their requested loan.
“Additionally, for those lenders interested in being better social citizens, it adds another dimension beyond traditional business lending, supporting the servicing of the underserved, unbanked, minority and immigrant small business owner. Another growing sector, here and abroad.”
Ron Benegbi, Founder and CEO of Uplinq commented: “We are thrilled with Uplinq’s partnership with FinSS Global. We share a common goal: financial inclusion for all SMEs. With FinSS Global incorporating our technology to help power their lending dashboard, CABLED, it now means lenders in the Australian and New Zealand markets aren’t just extracting data from traditional financial sources like bank accounts and accounting systems, but from proximity/access to markets, access to health and education services, family experiences in other businesses and utility, phone and payment history, to name but a few. All these additional factors have an impact on an SME’s day-to-day finances.
“We look forward to working together and expanding the lending landscape for all small business and micro business owners.”