Uplinq Financial Technologies and Visa have joined forces in a strategic collaboration to improve credit access for small businesses in the US and Canada. Uplinq, known as the first global credit decisioning support platform for small business lenders, will leverage its advanced credit decisioning technology and Visa’s expansive reach within financial institutions to offer an innovative solution in SME lending. The partnership will utilize Uplinq’s breakthrough API technology, which goes beyond traditional metrics by considering factors such as market dynamics, community influences, and environmental conditions to assess creditworthiness. This comprehensive approach aims to revolutionize credit access, particularly for smaller enterprises.
Matt Baker, the Head of Small Business at Visa Commercial Solutions, emphasized the significance of enabling rapid access to working capital for small businesses, which play a crucial role in the global economy. Through this collaboration, Uplinq’s advanced credit decisioning technology will be introduced to Visa’s financial institution clients in the US and Canada, ultimately benefiting more small businesses.
Uplinq’s technology offers a more inclusive and precise lending decision by overcoming the limitations of traditional credit scores and company financials. With over $1.4 trillion in underwritten loans globally and data from more than 150 countries, Uplinq’s broad perspective can support SMEs, including those from minority and protected class segments that often face barriers in obtaining credit.
Ron Benegbi, CEO and founder of Uplinq, expressed excitement about the partnership and its potential to assist small businesses in accessing necessary financing. The collaboration signifies Uplinq’s commitment to bridging the gaps that small businesses encounter when seeking fair credit, particularly for minority and protected class segments.
This collaboration adds to Uplinq’s achievements, including its partnership with the SME Finance Forum and recognition as the “Fintech Startup of the Year – Lending” at the 2023 Banking Tech Awards USA. Additionally, Uplinq is a finalist for the US FinTech Awards 2023 in the Banking Tech of the Year category.
The partnership between Uplinq and Visa holds promise for small business owners, making the pathway to financial assistance clearer, fairer, and more inclusive.
