Fintech agency Ledgerscope has launched a brand new service – Ledgerflow – which goals to assist different lenders and banks make higher lending selections.
The cloud-based service can extract monetary information inside minutes earlier than presenting it to the lender in a standardised format.
It’s hoped that the service will assist lenders acquire additional insights into the monetary well being of a possible borrower.
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“The relationship between many financial firms and their clients continues to become more distant,” stated Ledgerflow’s managing director Adrian Pearson.
“Excessive avenue enterprise banking has roughly disappeared and so has the custom of lenders getting to essentially know their shoppers and considerations.
“But, the necessity to perceive a enterprise’s place and wishes is as vital as ever for lenders.
“Ledgerflow offers lenders up-to-date and reliable data on which to base critical decisions.”
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Ledgerflow will probably be launched as an utility programming interface (API) in September, and also will be obtainable as a Software program as a Service (SaaS).
It’s being marketed as a white label choice which might be re-branded, and can use open accounting to judge up-to-date enterprise info from SME accounting software program.
“The open finance tool is emerging as a way to bridge the knowledge gap,” added Ledgerscope’s advertising and marketing director Rob Furness.
“We see huge possibilities for financial professionals to gain valuable insights to support their clients more effectively and grow their own services.”
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