Uplinq Financial Technologies has revealed that it has partnered with global digital payments firm Visa, to enable access to working capital for small business.
Through the collaboration, Visa will partner with Uplinq by introducing them to key financial institutions to deliver Uplinq’s breakthrough API technology, that can help lenders mitigate risk.
The partnership is also set enable more small businesses to receive access to to fair credit throughout the USA and Canada.
Matt Baker, Head of Small Business, Visa Commercial Solutions, said: “Having fast access to working capital is important for businesses of all sizes, but especially vital to small businesses who serve as the backbone of our global economy.
“Through this strategic collaboration, we look forward to introducing Uplinq’s advanced credit decisioning technology to our financial institution clients across the US and Canada to ultimately help more small businesses in both countries.”
Through its innovative technology platform, Uplinq leverages billions of alternative data sets across more than 150 countries globally, incorporating factors like market, community, and environmental conditions into the credit assessment and loan adjudication process.
The Toronto-based organisation’s technology has served as a foundation for more than $1.4 trillion in underwritten loans worldwide.
Ron Benegbi, CEO and founder of Uplinq, said: “We are thrilled to be working with an industry leader like Visa as we advance our efforts to help more small businesses secure the financing they need to succeed in today’s challenging lending climate.
“This engagement is a testament to the promise of our technology in bridging the vast and persistent gaps that small businesses still grapple with when trying to access fair credit, especially as related to minority and all protected class segments.”
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