Using Open Banking to power credit decisioning
Kabbage has provided access to capital for thousands of small business owners with lines of credit from $2k to $250k in a 6, 12 or 18-month product line. Capital is provided within minutes and 95% of customers have a 100% automated experience; from starting the application to having access to funds is a lightning-fast ten-minute process.
Within Kabbage’s constellation of current and evolving partnerships, the company has also engaged in international bank partnerships with Santander UK and ING. As a SaaS provider, Kabbage’s innovative and proprietary technology brings ease of access to SME funding in a number of European countries.
What's the Open Banking use case?
Kabbage offers a fully automated frictionless process that begins with the customer completing a simple application and providing access to existing small business data sources. Kabbage uses Open Banking to look at the data to instantly qualify customers for a line of credit.