How Can Fintechs Benefit From Fast Onboarding and Due Diligence Within their Own Platform?
Due diligence, although a slow and cumbersome process for many finance companies, it is ultimately a necessary one. Often, Fintechs have four or more different systems to check every financial aspect of a company. These platforms include sites such as Companies House, Land Registry, Experian or SmartSearch with each individual platform providing a different avenue to research a companies’ finances. Finance history, credit history, director checks and property lists are all-essential due diligence tasks, but what if there was a way to do all of this all on one platform, removing the need to switch between four different services to get the information that you need?
DataGardener provides a single source of truth for everything you could ever need to know about a UK business. With DataGardener, Fintechs can utilise multiple search functions on one convenient platform. For example, the company search page allows anyone to search for information by company name, meaning that all you need to know to begin due diligence is the name of your potential client. This is a perfect way to complete the first step in due diligence: making sure the prospective client is actually a legitimate UK company. For assessing client management, the director search page makes it easy to check the performance of the CEO as well as their own connections and even their nationality. DataGardener even provides its own Land Registry search function, allowing Fintechs to check company legitimacy, financial assets, directory legitimacy and property status all in one search engine.
Of course, you can use DataGardener like any other search engine by logging on to their platform and using their database directly. However, if your Fintech already has incumbent software that you’re happy using, DataGardener can supply all of the information you need via a direct API feed. This means that your business gets all of the benefits from using the DataGardener service without having to switch to an entirely different interface to get access to it. With DataGardener and its all in one search functionality, your business can onboard clients faster than ever before with a less time consuming and more efficient due diligence process that benefits both you can your clients.
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