PYMNTS MonitorEdge May 2024

Uplinq and Ernst & Young Partner to Offer Small Business Credit Lending

EY, Ernst & Young building

Uplinq Financial Technologies has partnered with Ernst & Young (EY) to introduce credit lending to small and medium-sized businesses (SMBs).

Using advanced analytics and Uplinq’s decision-making modules, the integrated solution aims transform the lending landscape, the companies said in a Wednesday (Oct. 18) press release.

Mario Schlener, EY partner and lead risk consulting for Canada, said the collaboration will use an analytics approach to aid decision-making and boost profitability for lenders. “EY Canada looks forward to working with Uplinq to help small business lenders assess credit risk in a smarter and more inclusive way,” Schlener said in the release.

Uplinq founder and CEO Ron Benegbi said the company is honored to work with EY.

“Powered by our breakthrough technology, we’re going to help transform the entire decision-making process for business banking lenders,” Benegbi said.

Uplinq uses a credit assessment platform that looks beyond traditional credit bureaus’ financial data, according to the press release. By leveraging billions of alternative data sets from 150 countries, Uplinq enables lenders to consider factors such as market, community and environmental conditions. This approach allows lenders to better understand the entire ecosystem of a business and loan applicant.

Uplinq said in the release that its technology has already facilitated over $1.4 trillion in loans worldwide.

Uplinq’s partnership with EY follows a recent similar move with Visa.

In August, Uplinq unveiled a partnership with Visa to help lenders reduce risk while giving American and Canadian SMB owners access to fair credit, per a PYMNTS report.

“Having fast access to working capital is important for businesses of all sizes, but especially vital to small businesses who serve as the backbone of our global economy,” Matt Baker, head of small business at Visa Commercial Solutions, said at the time.

“Through this strategic collaboration, we look forward to introducing Uplinq’s advanced credit decisioning technology to our financial institution clients across the U.S. and Canada to ultimately help more small businesses in both countries,” he added.