Unlocking Open Banking’s potential to lift small business
February 25, 2023
Mastercard is adding advanced analytics to its Open Banking platform, which is delivered by its subsidiary, Finicity, in the US. According to Mastercard’s Rise of Open Banking Small Business Report, 85% of small business owners are looking for more choices that deliver faster and easier access to capital. These analytics can help lenders manage their risk profiles while also adding diverse and inclusive credit models for small business loans as well as ongoing monitoring and expansion of credit card lines.