Access to capital is critical for small businesses to grow and thrive. However, traditional lending processes can make it an extremely challenging task. Onboarding a SMB for a financial product involves many different complex processes like compliance, underwriting, and fraud prevention. When those processes are reliant on stale, incomplete information from data providers or manual workflows, the outcome is a cumbersome experience that oftens results in week-long delays, or worse, a qualified borrower being turned away due to a lack of visibility into their creditworthiness.
We’re thrilled to announce our partnership with Lendflow. Lendflow’s embedded credit ecosystem gives companies everything they need to build, embed and launch credit products. Lendflow’s automated Credit Decisioning Engine will harness Middesk’s business identity data to help fintechs, lenders, and vertical SaaS companies confidently build smarter underwriting models to drive better decisioning outcomes and launch new credit products faster.
Through the partnership, Lendflow allows underwriters to access Middesk’s proprietary government data pipelines that verify entity details like registered name, address, tax identification number, and watchlist screening, which can be used alongside other relevant data points in the Lendflow platform.
By automating verification processes, this solution enables lenders to reduce friction and modernize the application and decision-making process for new loans. With Lendflow and Middesk, lenders can paint a complete picture on each borrower, driving faster turnaround times and better business outcomes. In turn, SMBs can get near instant access to the capital they need to reach their full potential .
Learn more about Lendflow’s credit decisioning engine here.