Solutions

Minimise the risk from fraud at the point of account application.

Secure bank account level authentication could become faster and easier at the point of online banking login. Using Open Banking data, together with additional account information that we hold in our closed user group, could help verify that the account accessed belongs to the customer applying for the product.

Proactively support your customers by monitoring their financial health.

Using bank transaction data for creditworthiness assessment means you could better manage your customers’ profiles. Our high risk alerts and primary account indicators will provide insight into the credit risk of the customer, such as possible loss of income, high number/value of gambling transactions, high proportion of income taken out as cash, etc.

Assess your customers’ ability to repay, enabling you to offer the right products.

Combining bank transaction data with an affordability assessment means you better understand your customers’ ability to repay a loan, enhance decision making with instant decisions and improve customer experience.

With the potential to provide a categorisation service, we could automatically group transactions into spending categories (utility bills, shopping, etc.) we could and help you and your customers understanding their financial spending patterns at the click of a button.

We will be also building Income & Expenditure calculations derived from raw transaction data and our categorisation engine, which will help you further understand your customers’ financial situation.