Unlocking Open Banking: Enable Banking and Qred Join Forces to Empower Entrepreneurs
In a significant move for the financial technology sector, Enable Banking has joined forces with Qred Bank, a leader in providing swift and adaptable financing solutions for entrepreneurs. This strategic partnership aims to enhance financial services through innovative open banking technologies.
About Qred Bank
Founded in 2015, Qred Bank has rapidly expanded its operations across multiple countries, including Sweden, Finland, Norway, Denmark, the Netherlands, Belgium, Germany, and Brazil. The bank proudly serves over 50,000 businesses by offering business loans that range from €5,000 to €500,000. This flexibility allows entrepreneurs to:
- Invest in new opportunities
- Grow their businesses
- Expand their operations
Qred’s unique model allows businesses to repay loans early, meaning they only incur costs for the time they utilize the financing.
Enable Banking’s Role in Open Banking Infrastructure
Enable Banking is recognized for its next-generation open banking infrastructure, which connects to over 2,500 European banks across 28 countries through a single, PSD2-compliant API. The company specializes in:
- Providing seamless, secure connectivity for both consumer and business accounts
- Facilitating account-to-account payments
- Offering access to crucial financial data
As a licensed Account Information Service Provider (AISP), Enable Banking helps businesses harness transactional data to develop innovative financial services while ensuring compliance with data security standards.
Integration of Services for Enhanced Customer Experience
This partnership integrates Enable Banking’s open banking connectivity with Qred’s advanced risk assessment and credit decision-making platforms. The collaboration enables:
- Real-time financial data analysis
- Streamlined credit approval processes
- Improved customer experience
Additionally, by incorporating Enable Banking’s account-to-account payment infrastructure, Qred can simplify payment management, thus enhancing operational efficiency by automating formerly manual tasks.
Statements from Leadership
Sarah Häger, Chief Commercial Officer at Enable Banking, expressed enthusiasm about the partnership, stating, “We are thrilled about our collaboration with Qred. This partnership showcases the transformative potential of open banking in enhancing business processes and fostering innovation.” She emphasized the positive synergy in working with a proactive team eager to leverage open banking to create impactful solutions for entrepreneurs.
In agreement, Emil Sunvisson, CEO of Qred, noted, “Partnering with Enable Banking advances our mission. Their open banking connectivity allows us to refine our risk analysis, streamline our operations, and fuel growth. Together, we are dedicated to helping small businesses thrive and generate new job opportunities across Europe.”
For more information on how open banking can revolutionize your business financing options, visit Enable Banking’s official website.
