Codat

Codat is a comprehensive platform designed to streamline business lending processes by automating data collection and analysis. It enables lenders to access customers' financial data directly from accounting platforms and bank accounts, providing real-time insights into cash flow, profit margins, and other key financial metrics. This capability allows lenders to make informed credit decisions more efficiently, reducing underwriting costs and improving applicant experiences.

Key features of Codat include the ability to categorize bank statements and standardize financial statements using machine learning, which helps in assessing financial stability and repayment capacity. The platform also offers live access to payables, receivables, and other critical financial data, facilitating the detection of potential fraud. By integrating with various financial systems via APIs or spreadsheets, Codat simplifies data processing and enhances the scalability of underwriting activities.

Codat's solutions are particularly beneficial for small and medium-sized business lenders, as they provide a complete toolkit for analyzing financial data at scale. This includes monitoring customers' financial performance to prevent defaults and proactively manage credit lines. Overall, Codat aims to optimize business lending by leveraging data-driven insights to improve efficiency and reduce risk.