Plaid and Codat partner to improve small business lending in the UK

Plaid and Codat partner to improve small business lending in the UK by streamlining the loan underwriting process for SMEs through the integration of comprehensive financial data from trusted sources, enabling lenders to better assess creditworthiness and reduce fraud. The partnership aims to address the significant funding gap faced by SMEs in the UK, which is estimated to be around £55B, despite a doubling of loans made to SMEs at over £54 billion in 2020 compared to the previous year.