Client onboarding & monitoring

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

Using Codat’s API - or pre-configured link-journey - a credit union or community banks prospects and customers can effortlessly connect their financial data platforms (accounting, eCommerce, POS, etc) with the bank, to ensure key data is seamlessly & safely shared to the bank’s relevant systems

Once that connection is made, data can flow freely back and forth, ensuring e.g. automated covenant monitoring systems, or a bank relationship manager’s dashboard, are kept up to date

This approach not only saves time and effort on the part of the customer but enables a far more efficient internal processing of key customer data.