We’re excited to announce that Cape has joined as a flagship partner of Basiq’s newly-released Startup Launchpad. Basiq Launchpad supports fintech innovators on their journey to scale, by enabling early-stage startups to launch with free access to real-time financial data and Basiq’s suite of products.  

Harnessing Open Banking to accelerate SME growth

For small-to-medium enterprises (SMEs), Open banking can help unlock access to credit much faster and more cost-effectively, and in return accelerate growth. Access to Open Banking data not only increases the accuracy of the underwriting process but can also eliminate the need for customers to manually enter any details or send additional documentation to Cape in the future, saving time and improving the customer experience.

By integrating Basiq’s Open Banking technology into the Cape application and risk analysis process, prospective SME borrowers will be able to seamlessly connect their banking account to instantly verify their identity, account and income information with Cape.

Just as Basiq Launchpad aims to help early-stage startups launch, Cape is also on a mission to provide emerging businesses with easier access to the working capital they need to scale and grow:

“We start as we mean to go on, our partnership with Basiq will help make it easier and faster for future customers to apply for our Cape products digitally. Open Banking technology offers a way to radically speed up the digital application process by offering instant decisions and personalised products. It also reduces the administrative burden on businesses when applying for credit or a change of terms. When looking for an Open Banking partner, Basiq was a clear favourite given they’re the leading Australian open banking platform and a strong supporter of the startup ecosystem.”

Ryan Edwards-Pritchard, Founder & CEO @ Cape

For Basiq founder, Damir Ćuća, working with Cape helps realise Open Banking’s potential outside of retail banking:

“We’re proud to announce Cape as our flagship partner on the Startup Launchpad and look forward to seeing their journey as we work together to re-design business spending. Open Banking can hugely enhance the customer experience and will set the standard for all alternative finance lenders and banks going forward.”

Damir Ćuća, Founder CEO @ Basiq

For more on how Cape helps startups unlock credit to run and grow head to the Cape website.

To learn more about Basiq Launchpad here.