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AccountScore, Validis enter SME open banking partnership

Tuesday 6 August 2019 | 11:36 AM CET

UK-based analytics business AccountScore has partnered with Validis to utilise SME financial data to offer new banking services to small and medium businesses.

The partnership will leverage open banking to enable small businesses to share financial data through a single, consent-driven workflow with their banks. Subsequently, banks will receive a complete overview of their clients and tailor financial services accordingly. Overall, the two companies will work to aggregate bank transaction data, public business and credit information and management account data.

The open banking alliance will also enable the banks to use management account data to verify bank transactions. AccountScore representatives said that as Open Banking becomes more established having a single intuitive workflow where SMEs can share their data easily and securely opens up possibilities for financial services.

An AISP accredited open banking platform, AccountScore focuses on providing actionable insights and analytics on bank transaction data for clients.

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