Rob Haslingden, Head of Impact Assessment and Engagement at CFIT, said:

“By educating SMEs about their financial data, and providing these insights either prior to or at the point of credit application, we can help businesses take the necessary remedial action to improve their creditworthiness, emulating how similar services in consumer credit have transformed access to mortgages and personal loans. The results of our prototype testing are particularly timely, as the Government drives forward its work to improve SMEs’ use of digital tools and expand their access to finance.”