Streamlining the credit lifecycle for consumers and businesses
Offer lending propositions based on open banking data to optimise processing and reduce credit risks. Use access to high quality transaction data to assess loan applications, speed up loan actualisation or power your credit risk models.
Business loans as well as consumer credit
Time spent on loan applications reduced by >75%
Reduce risks by making decisions based on reliable data
Verify the loan affordability of prospective loan customers based on their transaction data. Deliver a smooth, fully digital onboarding experience for customers and segment prospective customers early in the onboarding process.
Optimise the loan actualisation process by periodically updating the transaction history, supporting credit acceptants and feeding into risk models. This reduces operational costs, improve the customer journey and helps to comply with the financial duty of care.
Offer lending products based on the continious monitoring of the bank transactions. Pro-actively detect changes in the risk profile, or continuously stream transactions into risk models.
Use case: ICS Creditcards
Streamlining credit renewals
ICS Creditcards applied our open banking platform speed up the process of reviewing their custom. Using our Credit Insights, they instantly extracted relevant financial indicators based on their bank account information, providing the customers with a a faster and better credit experience.