Atom bank and Plaid join forces to lend SMEs a hand

Atom Bank, a digital-only bank, has partnered with Plaid to streamline the application process for business loans and offer near real-time lending decisions to small and medium-sized enterprises (SMEs). The collaboration leverages Open Banking data, enabling Atom to anticipate SME financing needs and deliver smart lending products. This partnership aims to alleviate challenges faced by SMEs, such as low productivity, high failure rates, and inefficient access to credit, which have been exacerbated by the COVID-19 pandemic.