Business Financial Management

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’s infrastructure allows a bank to enable its business customers to enable connections to a range of financial data platforms - to bring data together via a single API, in a single place.

This data can be used to show the SME a curated view of their key financials, including cash-flow, financial “wellness”, outstanding payments, suppliers & buyers, and much more

Furthermore, this can be tied in to a bank’s core product offering - e.g. tying outstanding invoices direct to credit facilities, or offering finance to cover projected cash-flow shortfalls