Our Technology — Open Banking Loans and AI Lending UK
Our tech-enabled lending platform
A short, plain-English tour of how we keep your data safe, how our AI decisioning system works, and what Open Banking is.
Credicorp runs as a digital lending platform built around real-time data. Open Banking feeds, credit reference information and automated credit decisions come together so a limited company or LLP can apply, be assessed and get an answer in minutes rather than days — with people stepping in where it matters most.
How we keep your data safe
- Encrypted in transit. Every page on this site — every form, every portal screen, every API call — is served over TLS. Look for the padlock in the address bar; if you do not see it, stop and contact us.
- Encrypted at rest. Application files, bank statements, identity documents and call recordings are stored on encrypted UK-based systems. Database fields containing personal identifiers are also encrypted at the column level.
- Signed PDFs. Every Business Loan Agreement and Key Information Sheet (KIS) we issue is a tamper-evident, digitally signed PDF. If anything is altered after we send it, the signature will not verify — your bank, accountant or solicitor can confirm this independently.
- Full audit log. Every meaningful action on your file — who looked at it, when, and what changed — is recorded in an append-only audit log. We use this for support, for complaints investigations and for regulator requests.
- Retention with a purpose. We keep information only as long as we need it for the purpose we collected it for. Typically around six years after a relationship ends. After that, the data is deleted.
What our AI does — automated credit decisions
Our AI decisioning system handles the full application assessment. Inside the application flow that means:
- Bank statement categorisation. Whether you upload a PDF statement or connect via Open Banking, the transactions are read, grouped and summarised by the AI in seconds.
- Lending decision. The combined picture from bank statements, credit reference data and AML screening is assessed by our AI against our published policy. The system makes the decision — approve or decline — within a few minutes.
- Application status updates. You are told what stage your application is at, in real time, in the portal and by email. No silent gaps.
- Anti-fraud signals. Standard automated checks for things like duplicate accounts, suspicious device or network fingerprints, and inconsistent identity information. These are about protecting you and us — they are not credit signals.
In plain English: how the AI decision engine works.
Open Banking for UK business, explained
Open Banking is a regulated UK framework. It lets you authorise a third party to look at your bank account — read-only — or to initiate a payment on your behalf. We use it because it is faster than uploading PDFs, and the information comes straight from your bank, so there is nothing to mistype. It also gives our AI a richer, real-time view of your account activity than a credit reference file alone — a form of alternative data credit scoring that helps us assess a business fairly. Because the feed is live, we work from current trading patterns rather than a snapshot that may be weeks out of date. This real-time data lending approach is what lets a UK business get a clear answer quickly, while keeping you in control of access at every step.
Your right to revoke
You can withdraw your Open Banking authorisation at any time, either inside your customer portal or directly through your bank. After that, we keep only the bank statement summary we already used for the decision — no further reads.
AI lending UK — how our decisioning system works
Our AI decisioning system is the authoritative decision-maker for creditworthiness and affordability assessments. It analyses bank statement data, credit reference information and AML screening results to reach a lending decision within minutes. Money-out (disbursement) is the only step that involves a manual release.
For the full detail of what goes into a decision, see How We Lend. For how we treat applicants going through a hard time, see Vulnerability. The formal regulatory disclosures live on Legal & Compliance.
Read next: how we lend.
Common questions about our technology
What is an Open Banking loan UK?
An Open Banking loan UK is a business loan where the lender reads your bank statements through a regulated Open Banking connection rather than (or alongside) PDF uploads. Credicorp uses Open Banking to get a real-time view of company trading patterns, which speeds up the decision and can surface a clearer picture of affordability than a credit file alone.
Is Credicorp a fintech lender UK?
Yes. Credicorp is a UK-based digital lending platform — a technology lending platform UK-built and UK-focused — that uses AI credit decisioning, Open Banking data and automated AML screening to assess and fund business loans for UK limited companies, typically within the same working day.
What is data-driven lending and how does Credicorp use it?
Data-driven lending replaces manual document reviews with real-time data from Open Banking and business credit reference agencies. Our platform categorises bank transactions automatically and applies a published credit policy to produce a decision in minutes. The output is a consistent, auditable, and faster assessment than a purely manual approach.
How does alternative data credit scoring work?
Alternative data credit scoring supplements traditional credit files with real-time transaction data — in our case, Open Banking feeds covering at least 90 days of company bank activity. This lets our platform assess companies that may have a thin credit file but a clear, positive trading pattern.