Australia’s Basiq names fintech Cape as flagship partner of startup launchpad
Australian Open Banking provider Basiq has confirmed fintech Cape as its flagship partner for the newly-released Basiq Launchpad, which provides support to early-stage fintechs as they scale.
Cape has become the first startup to take advantage of Basiq Launchpad, which aims to help early-stage startups launch by giving them free access to real-time financial data and Basiq’s suite of products.
Ryan Edwards-Pritchard, founder and CEO of Cape, which is designing a corporate card to help small businesses reach the next stage of their growth, said that the partnership with Basiq will help make it easier and faster for future customers to apply for its Cape products digitally.
“Open Banking technology offers a way to radically speed up the digital application process by offering instant decisions and personalised products,” he added.
“It also reduces the administrative burden on businesses when applying for credit or a change of terms. When looking for an Open Banking partner, Basiq was a clear favourite given they’re the leading Australian Open Banking platform and a strong supporter of the startup ecosystem.”
Basiq founder CEO Damir Ćuća said that working with Cape “helps realise Open Banking’s potential outside of retail banking”.
“Open Banking can hugely enhance the customer experience and will set the standard for all alternative finance lenders and banks going forward,” Ćuća added.