Espoo-based Enable Banking has partnered with Stockholm-based Qred Bank to enhance financial accessibility for entrepreneurs. Qred, known for its rapid and flexible business loans, will integrate Enable Banking’s real-time financial data and account-to-account payment infrastructure to optimize credit decisions and streamline operations. This collaboration allows Qred to refine risk assessment, automate processes, and offer a smoother customer experience across Europe. By harnessing open banking technology, the partnership aims to empower small businesses with faster financing solutions, reinforcing both companies’ commitment to innovation in financial services.
Enable Banking is an open banking infrastructure provider that facilitates access to financial data and account-to-account payments across Europe. Through a single PSD2-compliant API, it connects businesses to over 2,500 banks in 28 countries. The company specializes in business and consumer account connectivity, enabling real-time transaction data retrieval and payment automation. As a licensed Account Information Service Provider (AISP), Enable Banking operates within regulatory frameworks, ensuring compliance and data security while supporting businesses in integrating open banking solutions into their operations.
Sarah Häger, CCO at Enable Banking, said “ We are thrilled about our partnership with Qred. This collaboration highlights the transformative potential of open banking in accelerating the Bank’s business processes and driving innovation. Helping Qred leverage the power of open banking in its processes is a perfect fit for us. From the very beginning, the collaboration has been seamless, and it’s been a pleasure working with such a bright, forward-thinking team who are eager to make things happen and take advantage of Open Banking. Together, we’re creating something truly impactful for entrepreneurs, and we’re excited to support Qred as they continue to empower entrepreneurs with flexible and efficient financing options across Europe.”
Qred specialises in delivering simple, fast and flexible financing, enabling entrepreneurs to focus on growing their businesses without the constraints of traditional banking systems. With a mission to power entrepreneurs and help companies to grow, invest and expand.
Qred was founded in 2015 by entrepreneurs, for entrepreneurs, with a mission to make business financing smoother, faster, and more accessible. With operations across Sweden, Finland, Norway, Denmark, the Netherlands, Belgium, Germany, and Brazil, Qred has supported over 50,000 businesses, helping them invest, grow, and expand without the complexities of traditional banking. Offering flexible business loans from €5,000 to €500,000, Qred gives entrepreneurs the freedom to repay early, ensuring they only pay for the time they need.
Emil Sunvisson, CEO of Qred, commented: “Partnering with Enable Banking is another step forward for Qred. Their open banking connectivity enables us to enhance our risk analysis, streamline operations, and drive growth. This partnership allows us to deliver a smooth customer experience and stay true to our mission of powering entrepreneurs. Together, we’re helping small businesses thrive and create new job opportunities.”
The partnership integrates Enable Banking’s second-generation open banking connectivity with Qred’s advanced risk assessment and decision-making platforms. This collaboration enables real-time financial data analysis, helping Qred streamline credit decisions, enhance customer experiences, and expand its offerings to meet the unique needs of entrepreneurs. Additionally, by leveraging Enable Banking’s account-to-account payment infrastructure, Qred is making it easier for its customers to manage payments seamlessly. The partnership optimizes Qred’s operational efficiency by automating previously manual processes.
Enable Banking’s joint effort with Qred builds upon its strong position in the open banking business account market. The partnership is a testament to the power of collaboration in driving progress for entrepreneurs and the financial services sector.
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Read the orginal article: https://arcticstartup.com/enable-banking-and-qred-partner/
