Finclusion, a new entrant in the UK’s motor finance market, has forged a partnership with UK-based fintech company Sikoia.

The collaboration aims to enhance the car finance decision-making process by integrating Sikoia’s API into Finclusion’s operations.

The integration will allow customers to provide information while enabling the use of AI-driven document analysis and Open Banking data to verify income and affordability. This is expected to lead to faster and more accurate lending decisions.

By adopting a dealer-first strategy, Finclusion aims to work towards a more efficient car finance experience, where dealers can receive expedited verifications due to Sikoia’s streamlined platform.

Commenting on the partnership, Finclusion CEO Chris Bosworth said: “Our goal is to build a lender that works for dealers, while opening up access to car finance for customers who are too often overlooked. Partnering with Sikoia means we can make this vision real, delivering a transparent, dealer-first experience with confidence in every decision.”

Sikoia’s technology is designed to help financial service providers automate essential parts of the customer verification process.

The platform offers a centralised solution for accessing customer data and delivers automated insights to ease the onboarding process.

Sikoia CEO Alexis Rog said: “Every drop-off during income verification is a missed revenue opportunity for lenders. By integrating Sikoia, Finclusion combines Open Banking with intelligent document automation to put customers first – offering choice while keeping full automation behind the scenes. We look forward to making this partnership a success.”

Finclusion aims to serve parties who are “underserved” or “excluded from traditional finance” access.