Accept more customers. Faster. Cheaper.
Why Open Banking is important
The regulatory environment, especially in the financial services, banking and lending sectors, is increasing scrutiny on providers to make sure consumers are being given access to the right products; and that they are sustainable and affordable.
Open Banking means that consumers can more easily utilise the power of their bank statement information. Businesses can use this to reduce processing costs and understand consumers better to provide an improved service.
Our Open Banking Service includes:
Creditworthiness & Affordability
Focuses primarily on assisting clients with creditworthiness and affordability assessments – and was designed based on feedback from across the industry.
Offers an integrated service using Open Banking APIs to access customer’s transactional bank account information.
Screen Flow Features a purpose-built screen flow to take your consumers through the consent and authorisation journey required for Open Banking. The solution is embedded into a clients existing screen flow with simple integration.
Consumer Data Insight
Depending on client requirements it can drive a range of affordability, income and expenditure and creditworthiness insights from consumers data to help process a consumers application.
Clients can review Open Banking data alongside traditional credit reporting and affordability solutions to offer deeper and more meaningful insight.