Codat AI Platform Brings Real-Time Data to Banks

Commercial banks gain a fresh way to tap **real-time data** from business clients. Codat rolled out its **AI advisory platform** today. This step builds on years of linking financial firms to small business software.

Key Facts

• Codat announced a strategic shift with a new advisory Intelligence Platform.
• The tool targets commercial and business banks.
• It provides real-time data and AI solutions.
• Developed after nearly 10 years of creating data links between banks and their business customers.
• Codat’s infrastructure connects financial institutions to over 360 business apps.

Simple Breakdown

Codat started as a data connector. It pulls info from apps like accounting software or payment systems used by Small Businesses. Banks use this data for loans or services.

Now, the **Codat AI platform** adds smarts. It analyzes data right away with AI. Banks get insights to advise clients better, spot trends, or speed up decisions.

Think of it as a dashboard. It shows live numbers on cash flow or payments. No more waiting for old reports.

Why This Matters

Banks deal with tons of business clients. They need quick data to offer good advice or approve loans.

This platform cuts delays. **Real-time data** means faster checks on client health. AI spots risks or chances early.

Business owners get better help. Banks keep clients happy and grow revenue. In the US and UK, where Open Banking grows, this fits right in.

It also helps smaller banks compete with big ones who have their own tech teams.

What's Next

Banks will test this platform soon. More features like custom AI reports may come.

Codat plans to add links to new apps. Expect wider use in lending and payments.

As AI rules tighten in Europe and US, Codat will focus on safe data use. Partnerships with big banks could speed rollout.

Conclusion

Banks enter a new era of data-driven advice. Codat’s tool sets the pace for AI in business banking. Watch for wider adoption soon.