Open Banking Provider Yolt Announces Partnership with Creditsafe

Yolt, a UK-based Open Banking provider, has partnered with Creditsafe, a multinational business intelligence provider.

The partnership will see Yolt's Cashflow Analyser added to Creditsafe's business information platform for business and credit professionals. Using Cashflow Analyser powered by Open Banking, Creditsafe will be able to offer its clients access to a customer's cash flow data to better assess its risk profile.

Powered by Open Banking, Yolt's Cashflow Analyser automates the process of retrieving a customer's banking data, allowing Creditsafe to deliver real-time affordability data for creditors and businesses lenders.

Yolt launched Cashflow Analyser in 2021, a solution powered by Account Information Services (AIS) that gives credit underwriters and providers of business services deeper insights into the cash flow of credit applicants and customers to streamline and simplify risk profile and affordability assessment processes. Now with dual banking licences in the UK and wider Europe, Yolt is offering Cashflow Analyser as a white label product to enable lenders, leasing companies, credit-checking and business intelligence services to utilise Open Banking to better understand the financial health of their customers.

(Source: The Paypers)