Tech-forward financing for growing brands
Financial services provider Ampla needed easy access to customers’ commerce and accounting data so that it could make smarter credit decisions and offer more tailored services. With Codat’s universal API, Ampla ditched a costly in-house build for turnkey integrations that streamline its underwriting and analytics.
A need for real-time insights without the development strain
To assess and track customers’ financial health, Ampla needed instant, ongoing access to business data through its commerce, retail, and accounting systems. Initially, Ampla tried to build the required integrations in-house, placing undue burden on its development team.
“It starts with the data,” said Jim Cummings, Ampla’s chief operating officer. “The better your data, the smarter your underwriting, the lower your loss rate, and the more extensive and affordable your capital solutions. But getting all that data off the ground is really hard to do.”
Data on demand
To make critical credit decisions, Ampla needed easy access to customers’ commerce and accounting data—including inventory figures, purchasing orders, invoices, and more.
Complex integrations
Maintaining integrations in-house was costly and time-consuming for Ampla’s team, and it took extra effort and expertise to ensure high-quality, standardized connections.
Round-the-clock support
Ampla needed ongoing visibility into customers’ business performance so the team could mitigate risk, track key metrics, and identify opportunities for additional financing.
With Codat, a turnkey, universal data source
Ampla leveraged Codat’s token migration feature to transfer hundreds of active connections from their in-house Shopify integration to Codat’s API—without their customers having to reconnect. There, it joined a number of other integrations, delivering standardized data from multiple commerce and accounting systems straight to Ampla’s platform.
“Codat made it easy to consolidate our integrations under their universal API and keep all of our existing Shopify connections. They did all of the hard work in just a couple of weeks, and none of our customers had to reauthenticate.”
- Jim Cummings, Chief Operating Officer
Real-time data for quick, confident underwriting
Codat’s up-to-the-minute commerce and accounting data allows Ampla to quickly evaluate customers and deploy the capital they need to produce inventory, boost marketing efforts, fulfill purchase orders, and invest in go-to-market growth.
Powerful integrations with comprehensive coverage
With just one integration to Codat, Ampla gets standardized data from Shopify and many other commerce and accounting platforms their customers use. Better still, they don’t have to maintain or even think about these integrations in-house.
Continuous monitoring for tailored services
Not only does Codat’s real-time, standardized data lower Ampla’s risk, it allows them to automate updates to their customers’ financial services and offer highly customized solutions that meet businesses where they are.
Accelerated credit decisioning with minimized risk
“Codat’s real-time data means we can help our customers fuel growth faster without putting our bottom line at risk,” said Cummings.
Key results
- Shorter application times leading to better conversion rates
- Faster decisions due to streamlined underwriting
- Cash deployed in 24-48 hours within credit risk parameters
- $500,000,000 deployed to customers
How it works
One integration, countless connections
Ampla’s customers can integrate QuickBooks, Xero, NetSuite, Shopify, Amazon, Square, WooCommerce, and more through Codat’s API and deliver simple, standardized data.
In-depth business insights
Ampla can develop analytics, scoring, and visualizations based on the data they stream through Codat and instantly share them with customers.
Make smarter, faster credit decisions like Ampla
Get in touch with one of Codat’s data experts using the form below, and learn how our universal API can transform your lending platform.