Data company Codat has been given £2.5mn from the Banking Competition Remedies fund.
In Brief:
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Codat connects small businesses’ systems to FinTechs and FIs.
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It enables data to be shared in real time.
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Codat will use the funding to help FinTechs build new financial products.
What does this mean?
Codat says it will use the new funding to open up its API, allowing FinTechs to use it on a self-serve basis so they can build new products and services that will support SMEs. Codat believes this will help firms to create new solutions and bring them to market faster.
