Small and medium-sized enterprises are an integral part of the financial ecosystem. In most cases, those SMBs struggle for access to specific financial services. Validis acknowledges there are many opportunities waiting to be explored. As such, the company has introduced its DataShare product line for SMBs.
For those unfamiliar with Validis, the company specializes in financial data sharing and standardization technology. Its native DataShare product line offers a range of APIs and an online portal to view this data. Expanding this information to encompass SMB lending will be viable to businesses and financial service providers alike.
Validis Makes Life Easier for SMB Lenders
For SMB borrowers, the benefits will become apparent immediately. Their benefits include quicker decision making, as well as automation of the collection and transfer of their financial data. Lenders, on the other hand, receive accurate and complete financial data, which minimizes risk when extending a loan. Everybody wins from this new development, by the look of things.
Validis CEO Joel Curry explains:
“Validis’ DataShare products are changing how lenders speak with their clients. DataShare allows lenders to gain a comprehensive view of a SMB borrower’s financial health and become a true partner to their customers. With our DataShare products, financial institutions can benefit from fast and easy access to clients’ financial data in a standardized format, allowing greater control and increased productivity during the SMB lending process.”
The main reason Validis offers a crucial service is because it connects to over 80% of online and offline accounting applications sued by SMB clients. Moreover, their solution can extract all of the financial data needed to secure loans. All of the extracted information is encrypted, validated, and standardized in the process. The entire process takes just a few minutes to complete, which makes it a potential gamechanger.