Use case
Lending
Success story
ThinCats
Bringing benefits of data aggregation to SME lending in the UK
ThinCats
UK
Solution
Account Information, Data Enrichment
ThinCats is an alternative UK-based lender dedicated to funding growing and ambitious mid-sized SMEs with business loans from £1 million up to £15 million using pioneering data, personal relationships, and a pragmatic lending process. Teaming up with Salt Edge, ThinCats improves the efficiency of its upfront credit assessment and ongoing loan monitoring processes.
Salt Edge’s transaction categorisation toolkit enables ThinCats to build up its open banking dataset to support businesses through earlier identification of changing circumstances or additional funding needs. Data aggregation will help ThinCats to integrate real-time information in its credit decisioning and portfolio monitoring. Salt Edge’s Data Enrichment solution upgrades ThinCats’ data models with actionable insights that help streamline and shorten the funding process for SMEs.
Given the high volume of cash flow backed loans that we fund, open banking has a key role to play in helping us support creditworthy, but asset-light businesses, so it was important for us to find the right partner. Salt Edge was able to provide a portal-based trial within days, which enabled us to test both the technical aspects of the service and the usefulness of outputs we could expect to see. The support throughout the trial and as we moved to a live API-based solution was excellent; feedback from clients also indicated that the sign-up process from their side was straightforward and user-friendly
ThinCats
UK
Use case
Lending
Solution
Account Information, Data Enrichment