Our Technology — Open Banking Loans and AI Lending UK
Our tech-enabled lending platform
A short, plain-English tour o hoo we keep yer data safe, hoo oor AI decidin seestem warks, an whit Open Bankin 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.
Hou we keep yer data safe
- Encryptit in transit. Ilka page on this site — ilka form, ilka portal screen, ilka API caw — is served ower TLS. Look for the padlock in the address bar; gin ye dinna see it, stap an contact us.
- Encryptit at rest. Application files, bank statements, identity papers an caw recordins are stored on encryptit UK-based systems. Database fields haudin personal identifiers are an aw encryptit at the column level.
- Signit PDFs. Ilka Business Loan Agreement an Key Information Sheet (KIS) we issue is a tamper-evident, digitally signed PDF. Gin onythin is altered efter we send it, the signature winna verifie — yer bank, accoontant or solicitor can confirm this independently.
- Hale audit log. Ilka meaninfu action on yer file — wha lookit at it, whan, an whit chynged — is recordit in an append-only audit log. We uise this for help, for complaints investigations an for regulator requests.
- Retention wi 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. Ye are telt whit stage yer application is at, in real time, in the portal an bi email. Nae silent gaps.
- Anti-fraud signals. Staunart automatit checks for things like duplicate accoonts, suspicious device or network fingerprints, an inconsistent identity information. Thir are aboot protectin ye an us — they arena credit signals.
In plain wirds: hou the AI decision engine warks.
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.
Yer richt tae revoke
Ye can withdraw yer Open Banking authorisation at ony time, either inben yer customer portal or directly throu yer bank. Efter that, we keep anely the bank statement summary we awready uised for the decision — nae 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 hale detail o whit gaes intae a decision, see How We Lend. For hou we treat applicants gaun throu a haurd time, see Vulnerability. The formal regulatory disclosures bide on Legal & Compliance.
Read neist: hou 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.