Validis: Partners with Aryza to power open finance for UK business lenders
- Validis provides on-demand access to SME financial information; smoothly connecting accounting data to power lending
- Aryza, expert developers of software solutions for the sectors of insolvency, credit, and debt recovery
- The partnership was driven by a growing need across the SME lending world for better visibility over SMEs’ cash flow
- Despite SMEs accounting for more than 60 percent of all private sector jobs in the UK
- Research shows that around 30 percent of SMEs are initially declined by their banks
- The use of aggregated data sets allows both fintech and traditional lenders to tailor their banking services to specific business needs
