Open Banking lets you securely share your business bank account information with us, with your explicit permission, through your bank's own secure login. It is one of the biggest factors in how quickly we can assess your application.
Why it is faster
- We see verified, up-to-date transaction data straight away
- There is no need to download, redact and upload statements
- Fewer follow-up questions, because the picture is already clear
- Less chance of mismatched or out-of-date documents
What we look at
We use the data to understand your company's trading: money in and out, regular commitments and how the business is performing. This helps us shape an offer that genuinely fits your cash flow rather than relying on broad assumptions.
You stay in control
You authorise the connection through your bank, you can see what you are sharing, and you can withdraw consent. We only access the information needed to assess and manage your finance. Connecting is read-only: it does not let us move money from your account.
If you would rather not use Open Banking, you can upload statements instead, though this can take a little longer to review. This is business lending outside the consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.
For related guidance, read what Open Banking is and whether it is safe, whether to upload statements or connect by Open Banking and how we decide whether to lend.
See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.