9Spokes launches 9Spokes Open — evolving from data platform to open data platform

AUCKLAND, New Zealand - Sept. 13, 2021 - PRLog -- 9Spokes, an open data platform focused on building digital solutions for businesses and financial institutions (FIs), has launched 9Spokes Open. The launch moves 9Spokes from data platform to open data platform and enables any company to build and launch new business and financial products and services leveraging our data sets.

Advancements in technology have given rise to the 'connected consumer', who expects personalization, speed, convenience, and value-added services. The open banking and, more recently, the open data movement have democratized data sharing and enriched data ownership for the individual — unlocking the potential to derive greater value from their data. As the open data economy gains momentum, new and data-driven consumer propositions are emerging motivated by changing customer needs.

9Spokes Open integrates business apps and data sources in a single platform — putting businesses at the heart. Our API connects to apps and data sources across accounting, banking, point of sale, inventory, and more. Open is the infrastructure on which 9Spokes Apps for Business and Apps for Financial Institutions are built. Meaning the data sets and APIs are already tried, tested, and used by businesses and banks globally.

9Spokes Open is about enablement. Permissioned data connections through our powerful API enable organizations to better serve their customers.

Use cases include:

Risk management: By maintaining a permissioned connection to your customers' data, their data is always on to help you manage credit or other risk.

Business lending: Allow your customers to connect their data, which you can use to auto populate product application forms and obtain supporting financial information.

Customer intelligence: Build a more robust, multi-dimensional view of your customers compiled from multiple data sources.

Adrian Grant, Chief Executive and Co-Founder, commented: "The democratization of data is transforming the business and financial sectors. At the same time, we are seeing the 'connected consumer' reshape the tech landscape. They expect personalized experiences and for their data to be surfaced on demand and in ways that solve their specific situation and needs.

"While open banking unlocks permissioned access to financial data, open data platforms are the next phase in this evolution — going beyond financial data to supporting the whole business more holistically.

"COVID-19 has undeniably influenced the lending sector, as small businesses seek to regain financial balance. 9Spokes Open meets the urgent market need for fast, accurate, and streamlined loan management experiences, of which banks also benefit. With faster loan origination and less manual input required, banks will save time, money, and people expenses, and loan managers can nurture personalized experiences for their customers."

Visit https://www.9spokes.com/