Bizfitech

Bizfitech, operating under the brand name Handle, offers an open finance platform designed to streamline business lending decisions for financial service providers. Founded in 2015 by Olly Betts and Mark Gater, the company is headquartered in Bristol, United Kingdom. Betts, with a background in digital and financial services, and Gater, an experienced software architect, aimed to simplify the process for banks and lenders to access and analyze business customers' financial data.

The core of their service is leveraging open banking and open finance to provide lenders with a comprehensive, real-time view of a business's financial health. This is achieved by aggregating data from various sources, including accounting platforms and bank accounts, which allows for more accurate credit assessments and faster lending decisions. The platform serves a range of clients from large banks to alternative lenders, enabling them to automate data collection and analysis, thereby reducing the time and costs associated with underwriting small and medium-sized enterprise (SME) loans.

Bizfitech's business model is primarily business-to-business (B2B), providing its technology to financial institutions rather than directly to the end-business customer. By integrating Bizfitech's solution, lenders can enhance their customer onboarding processes, improve credit risk management, and offer more tailored financial products. The company has received recognition for its work, including being named a regional winner in Tech Nation's Rising Stars competition.

Keywords: open finance, open banking, business lending, credit assessment, SME finance, fintech, data aggregation, financial data, underwriting, risk management