Open Banking is an FCA-regulated way for your bank to share read-only transaction data with authorised lenders like Credicorp. Connecting takes about two minutes and usually means a faster, more accurate decision than uploading PDF statements manually.
How the connection works
During the application you will be redirected to your bank's own secure login page. You authenticate with your usual credentials, select the account(s) to share, and are returned to the Credicorp application. We receive a read-only feed — we cannot initiate payments or move money. The connection is typically valid for 90 days and can be revoked at any time through your bank.
Which banks are supported?
Most major UK business banking providers are available, including the large high-street banks and many challenger banks. If your bank is not yet listed, you can upload three to six months of PDF statements instead — the process simply takes a little longer.
What we look at in the data
We review turnover patterns, regular outgoings, and cash-flow consistency. We do not make decisions based on individual transactions; it is the overall picture that matters. The data is encrypted at rest and used solely for credit assessment in line with our privacy policy.
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee. As business finance outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS.
See also: What documents do I need to apply?, How long does a business loan application take?.