Funding Options, which offers companies an alternative to business finance, will simplify its customer journey and accelerate finance applications with new DueDil partnership.
The agreement will improve financing outcomes for customers by improving the connection between the lender.
DueDil uses matching technology to link billions of data points from authoritative sources. With this, Funding Options will be able to pre-empt friction points that business borrowers may encounter during applications.
Its software sources necessary data in the background on their behalf, pre-filling fields and cutting down the size of the application form.
Funding Options CEO Simon Cureton said, “From our partnership with DueDil to our commitment to help thousands more small businesses benefit from Open Banking, we are constantly building a more efficient platform for our customers, connecting them with the best products and services for their business.
“DueDil’s unrivalled company intelligence platform helps us to leverage our customers’ data to serve them better, automate the loan application process on their behalf and proactively help them before they know they need it. I’m excited that through this partnership we will be able to make business financing even simpler for the millions of small and medium businesses across the UK.”
Funding Options works by searching the market to find the best funding options for businesses, helping them find business loans, invoice finance, asset finance, property development finance, commercial mortgages, business credit cards and working capital.
To improve the customer experience, the FinTech is looking to leverage open banking data. It is also building products and services which analyse a customer’s real-time business banking data.
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