The new partnership provides financial institutions with the data they need to offer a more personalized experience to their business clients
TORONTO and LONDON, July 20, 2021 (GLOBE NEWSWIRE) -- Zafin, the world’s leading SaaS cloud-native product and pricing platform for financial institutions, today announces its partnership with Codat, a technology company that enables small businesses to seamlessly share business and financial data with financial institutions. Through the partnership, banks and credit unions will gain access to the data needed to serve more efficiently and to personalize the products and pricing provided to SMBs (small and medium-sized businesses).
Codat’s API connects several of the world’s leading accounting packages, point of sale solutions and payroll platforms used by SMBs to decisioning systems such as Zafin used by financial institutions. This better facilitates the flow of information, providing a real-time picture of an SMB’s financial performance to aid decision-making. The Codat-Zafin integration delivers a superior customer experience by enhancing the depth of data available to a bank or credit union and streamlining financial reviews and workflows. It improves a bank’s ability to offer product packages better suited to an SMB based on a clearer understanding of their business stage and unique financial needs. The partnership will also provide detailed cash flow information to financial institutions and enable them to offer more suitable products and pricing, thereby leading to better outcomes for financial institutions and SMBs alike.
“Providing next-level personalization is a key component of what both Zafin and Codat offer global financial institutions,” said Thomas Schickler, EVP and Chief Operating Officer of Zafin. “This collaboration allows financial service providers to understand and present hyper-personalized recommendations to their SMB customers more effectively. We can now enable bankers to play a crucial role in promoting the wellbeing of their SMB clients.”
Zafin’s cloud-native SaaS product and pricing platform is layered on top of banks’ legacy core systems. The platform provides a comprehensive view of the customer and the ability to build new products and pricing in months, not years. Offers and recommendations can be hyper-personalized to the business’ needs and financial health, strengthening the overall relationship with the SMB.
“Zafin’s approach to personalization is well established in the banking space and is a perfect fit for our technology,” said Peter Lord, CEO & Co-Founder of Codat. “Our mission is to make the lives of small businesses easier and enable suppliers to small businesses, through a single standardised API, to connect with the software packages SMBs use. We look forward to seeing many more SMBs and financial institutions together flourish as a result of this partnership.”
The partnership’s unified solution is globally available immediately.
Zafin, the global leader in SaaS cloud-native product and pricing solutions, is a trusted partner to the world’s most customer-centric financial institutions. Zafin’s product and pricing platform empowers banks of all sizes to center their customers, grow relationships and drive revenues.
The Zafin platform separates product and pricing from core processing to accelerate progressive modernization, enable digital transformation and deliver personalization at the relationship level.
A typical Zafin installation integrates easily with most back-end systems and customer-facing channels to increase product and pricing efficiency and agility, drive interest and non-interest income, and deliver a positive ROI—often in one year or less. www.zafin.com
Codat is the fintech startup powering the SMB data ecosystem. Codat’s API connects the tools and services that small businesses need for their operations and handles the heavy lifting of integrations—ultimately leaving providers free to focus on improving their offerings for small businesses.
Codat clients range from lenders to corporate card providers, and use cases span insurance to cash flow forecasting and more. Codat was founded in 2017 and has offices in London and New York. www.codat.io