Loanspark partnered with world-leading tech brands Mastercard, Middesk, and LexisNexis to enhance, speed up, and secure service delivery for its co-branded partners and their business customers.
A partnership with Mastercard enables Loanspark to leverage Mastercard’s open banking platform, with some services delivered through its subsidiary, Finicity, allowing businesses to establish direct consumer-permissioned connections with their customers’ bank accounts. This enables SMB owners to submit financial information securely and easily while focusing on running their business, and in turn allowing Loanspark to make better credit decisions by quickly verifying the borrower’s financial details. Accurate borrower information minimizes the lending risks and increases accuracy and speed of funds for SMBs.
“Small businesses are increasingly looking for greater choice in how they borrow, pay and manage their finances. Partnering with organizations like Loanspark provides small businesses with a streamlined process to gain access to capital and putting their financial worries at ease.”Andy Sheehan, EVP, US Open Banking, Mastercard.
Read more about this partnership here.