Codat’s API allows SMEs to connect & synchronize their key financial data sources to Banks, and Financial & Insurance Institutions, for a wide range of use cases - including credit origination, onboarding, and monitoring.
To achieve this, Codat has built integrations with the major accounting packages (Xero, Quickbooks, Sage, Netsuite etc.), two core Open Banking providers (Plaid & TrueLayer), and a growing number of "commerce data" sources (Square, Stripe, Shopify, Paypal, etc). Codat takes charge of the authentication of access by the SME, the synchronisation of data between the SME and the Codat customer, and the standardisation of these disparate data sources in Codat’s proprietary data model
Codat handles the connection between you, and your customers’ accounting software - including the accounts payable and receivable ledgers - to enhance accounts payable procedures
Once Malauzai SME customer has linked their accounts, the Codat API can be used for:
· Direct access to payables: pull suppliers and their invoices from their accounts software, providing complete visibility
· Safeguarding against fraud: invoices can be matched to prevent fraud and duplicate payments
· Removing repetition: Reconciling payments against supplier invoices can remove repetition