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Speeding up the application process with Open Accounting

Open Accounting is the key to giving you and your customers faster, smarter lending decisions, so read on and discover more about this simple, but powerful, solution to your application needs.

What’s Open Accounting?

In a nutshell, Open Accounting allows businesses to quickly and easily share the data held in their accounting packages with lenders, which in turn accelerates access to lending.

To handle our integration we partnered with a company called Codat. Through their single Application Programming Interface (API), we can easily access accurate and contributed accounting data from our small business customers. The result is a simple and hassle-free lending journey.

The benefits to you and your customers

Open Accounting is designed to greatly improve your working day. By asking your customers to integrate their accounting package directly with Atom, it will:

Less paperwork

Reduce the amount of paperwork you need to send us.

Less effort

Remove the need to manually collate and submit financial information and management accounts.

Less hassle

Make the application process straightforward and smoother.

Less time

Speed up lending decisions by giving our underwriters access to the most up to date financial information.

In addition, it’s a safer way of transporting information as all of the data will be protected via robust bank grade security protocols - that means it’ll be encrypted before, during and after transit.

How the process works

Eventually, Atom will ask all customers with a supported accounting package to integrate as part of the application process, as this’ll allow us to give them a faster Agreement in Principle. However, for now, we’re only asking a selection of customers to integrate their accounting package.

When further information is required at the initial application stage, we'll send you a secure URL link which you can forward on to them. From this link they’ll be able to securely integrate their accounting package and provide consent to share their data with us.

The four simple steps customers need to follow:

  1. Enter their company name
  2. Select their accounting package
  3. Log in and connect
  4. Successful connection

In this section we’ve laid out the entire integration process to help you fully understand how things work. You’ll find this really helpful if your customers have any questions.

Any questions?

If your customer needs to know why we’re making the changes to the way we work, simply ask them to visit for more information. We’ve also added some FAQs below to help clear things up.

If you have any queries for us, or if your customer is having trouble connecting their accounting package, you can contact our TBDM team Monday-Friday, 9am-5pm on 0333 399 0065.

Atom Telephone Business Development Manager wearing a headset while assisting a broker.