Codat teams up with Microsoft

On the back of collecting £2.5m in new investment in August, London-based FinTech startup Codat has become a Microsoft partner, enabling it it to better work to solve problems for enterprise financial service firms globally.

Codat is created to connect the internal systems of small businesses to banks, FinTechs and other financial institutions, allowing business data to flow back and forth in real time.

Following the deal Microsoft customers can now leverage Codat’s technology to  exchange data with their small business customers without it leaving the security of Azure, making it easier for providers to integrate the Codat platform.

“We’ve made rapid progress in addressing a universal pain point in SME financial services: the manual and slow exchange of financial data between SMEs and their service providers,” said Pete Lord, CEO at Codat. “Our modern API technology, hosted on Microsoft Azure, provides the means to do this better, giving firms the ability to offer SMEs a suite of improved and more agile products and services, while at the same time dramatically reducing their own operating costs.”

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