Codat Announces Partnership With Moody's Analytics to Improve Small Business Lending
Half of U.S. small and medium-size enterprises (SMEs) report that getting a business loan is difficult or takes too long. Although small businesses often seek small-dollar loans, these typically also have higher underwriting costs, which makes them more difficult for banks to efficiently offer. Automation makes it possible to serve the needs of even the smallest SMEs efficiently and profitably.
"We find ourselves in a time of rapid change, where new approaches to financing and technology are becoming increasingly important to small businesses," said
The CreditLens solution is a credit lifecycle management solution with access to industry-leading data and analytics. It simplifies and standardizes the way firms collect, analyze, and store credit data, laying the groundwork for robust credit origination. Codat will enhance the CreditLens decision framework by enabling automated spreading of real-time accounting data using machine learning. It will also make use of its ability to map the accounting information of any small business instantly and intelligently to a standard chart of accounts.
"We are excited to welcome Codat as a new accounting data aggregation technology partner to boost the value of Moody's Analytics lending solutions. Codat provides a seamless interchange of real-time data to enable valuable credit insights and predictive capabilities," said
About Codat
Codat is the universal API for small business data. Codat's API provides real-time connectivity to enable software providers and financial institutions to build integrated products for their SMB customers. Codat clients range from corporate card providers and forecasting software to lenders, and use cases span automatic reconciliation, loan decisioning and more. Codat was founded in 2017 and has offices in
About Moody's Analytics
Moody's Analytics provides financial intelligence and analytical tools to help business leaders make better, faster decisions. Our deep risk expertise, expansive information resources, and innovative application of technology help our clients confidently navigate an evolving marketplace. We are known for our industry-leading and award-winning solutions, made up of research, data, software, and professional services, assembled to deliver a seamless customer experience. We create confidence in thousands of organizations worldwide, with our commitment to excellence, open mindset approach, and focus on meeting customer needs. For more information about Moody's Analytics, visit our website or connect with us on Twitter and LinkedIn.
Moody's Analytics, Inc. is a subsidiary of Moody's Corporation (MCO) . Moody's Corporation (MCO) reported revenue of
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