About
Codat is an enterprise-grade financial data aggregation and API platform purpose-built for banks, fintechs, and financial institutions. It connects lenders and issuers to the accounting systems, ERPs, and financial tools their business customers use every day, enabling richer data sharing and AI-driven insights at scale. Codat's platform is organized around three core use cases. For issuing banks, its Spend Insights product delivers deeper visibility into commercial card spend from a broader client base, helping institutions grow card volume. For fintechs targeting SMBs, its Accounting Automation capabilities streamline financial workflows and reduce manual data entry. For business lenders, Codat automates data collection and enables more confident, data-backed credit decisions. With 250,000+ businesses connected and 150+ enterprise clients—including JP Morgan and Capital on Tap—Codat has proven its ability to operate at scale. The platform offers robust connectivity to a wide range of accounting platforms and ERPs, backed by deep domain expertise in accounting data and financial services integrations. Codat's use-case-specific data products go beyond generic API connectivity by delivering pre-built insights and features tailored to each financial workflow. Strategic investors from across the financial services industry further validate the platform's position as a trusted partner for data-driven financial institutions.
Key Features
- Seamless Financial Data Sharing: Enables business clients to easily and securely share financial data from their accounting systems and ERPs with banks and fintechs through a unified API layer.
- AI-Powered Spend Insights: Delivers actionable spend analytics to issuing banks, helping them grow commercial card volume by gaining deeper visibility into how business clients spend and manage suppliers.
- Accounting Automation: Automates financial workflows for fintech clients by handling accounting integrations and data normalization, reducing engineering overhead and accelerating time-to-market.
- Business Lending Data: Streamlines credit underwriting by automating the collection of financial data from business applicants, enabling faster and more confident lending decisions.
- Rich Data Ecosystem Connectivity: Connects to a wide range of accounting platforms, ERPs, and B2B payment systems through established partnerships, providing broad and reliable data coverage.
Use Cases
- Issuing banks using spend data to grow commercial card volume and deepen relationships with business clients.
- Fintechs automating accounting workflows for SMB customers without building individual accounting platform integrations.
- Business lenders automating financial data collection from loan applicants to accelerate and improve credit decisions.
- Financial institutions enabling digitized supplier enablement data sharing for large enterprise procurement workflows.
- Banks and fintechs building data-sharing infrastructure to offer personalized financial products to middle-market businesses.
Pros
- Deep Domain Expertise: Codat's teams bring specialized knowledge in accounting systems, financial connectivity, and fintech market dynamics, helping clients ship higher-quality integrations faster.
- Proven Enterprise Scale: With 250,000+ businesses connected and 150+ enterprise clients including JP Morgan, Codat has a demonstrated track record of operating reliably at scale.
- Use-Case-Specific Products: Rather than offering generic APIs, Codat tailors each data product to a specific financial use case, delivering deeper, more actionable insights out of the box.
- Strong Industry Backing: Strategic investors from leading financial services firms provide both credibility and deep industry connections that benefit Codat's clients.
Cons
- Enterprise-Only Focus: Codat is designed exclusively for banks and fintechs, making it inaccessible to smaller companies or individual developers without an institutional use case.
- No Public Pricing: Pricing is not disclosed publicly and requires direct contact with the sales team, making it difficult to evaluate costs upfront.
- Integration Complexity: While Codat reduces engineering burden, initial integration and onboarding still requires meaningful technical resources and coordination.
Frequently Asked Questions
What is Codat?
Codat is a financial data aggregation and API platform that connects banks and fintechs to the accounting systems, ERPs, and financial tools used by their small and middle-market business customers, enabling data-driven insights and automation.
Who is Codat designed for?
Codat is built for financial institutions, including issuing banks, business lenders, and fintechs that serve small and middle-market businesses and need access to their customers' financial data.
What use cases does Codat support?
Codat supports three primary use cases: Spend Insights for issuing banks, Accounting Automation for fintechs, and Business Lending for credit underwriting and data-backed lending decisions.
How does Codat connect to financial systems?
Codat provides pre-built API integrations with a wide range of accounting platforms and ERPs, along with established B2B payment partnerships, allowing clients to access normalized financial data without building and maintaining individual integrations.
What results have Codat's clients seen?
Clients like JP Morgan have used Codat to digitize supplier enablement data collection, achieving efficiency gains and cost savings across a larger share of their spend. Capital on Tap leveraged Codat to avoid the significant engineering effort of maintaining multiple accounting platform integrations.
