YouLend, the leading global embedded financing platform, and Plaid, a data network that enables consumers to connect their bank accounts to more than 8,000 apps and services, has substantially increased SME lending approval rates to 90%, surpassing the U.K.’s 2022 average of 64% and the previous government-assisted rate of 80% in 2021. By leveraging modern, automated underwriting and direct-from-source financial data through open banking, YouLend’s tech-driven approach enables businesses to access credit three times faster. The collaboration addresses the significant SME bank-financing gap, particularly in the Eurozone, providing an effective solution to challenges SMEs face in accessing working capital.
YouLend and Plaid Partnership Boosts SME Financing Approval Rates to 90% Across Europe
