Harness Open Banking for Better and Faster Credit Decisions
- Make faster decisions. Harness Open Banking to remove painful document collection and inspection, streamline manual underwriting, and automate policy rules.
- Increase acceptances and decrease defaults. Leverage rich Open Banking insights for a more comprehensive view of an individual’s current situation, helping you safely increase acceptances for previously under-served segments, and lend with more accuracy to reduce defaults.
“Through our data-driven partnership with Credit Kudos, we are now able to more quickly and reliably assess income allowing us to responsibly increase lending volumes. This market-first partnership will change the way our customers access financial services and products.”Scott Cargill – CEO, Admiral Financial Services Ltd.
Enhanced Decisioning with Credit Kudos
Credit Kudos is the UK’s first authorized Credit Reference Agency and Open Banking provider that uses financial behavior to measure creditworthiness. Credit Kudos links transaction data with credit outcomes to build unique risk insights, scores and models. Credit Kudos’ digital first tools enable lenders to make better credit decisions through their five core solutions: Income Verification, Affordability Insights, Risk Insights, Fraud Prevention and Customer Management.
- Income Verification: Instantly verify income amount and sources
- Affordability Insights: Breakdown of essential and non-essential expenditure; instant Affordability Threshold calculations
- Risk Insights: Key risk indicators including loan repayments, gambling, and returned direct debits
- Fraud Prevention: Leverage bank-level secure customer authentication and biometrics
- Customer Management: Provide value and efficiency through the lifecycle with up-to-date insights over time