The intelligence that underpins our Affordability API has moved on in leaps and bounds - so we're releasing a new version that's both easier to integrate into clients' existing lending flows and far more powerful.
For lenders, particularly those with a traditionally thin-file customer base, developing a nuanced picture of customer income is crucial. Our Benefits Finder API is the first on the market to identify all 31 of the main UK benefits reliably.
Using Open Banking to supercharge affordability assessments is fast becoming the norm for lenders. Based on the data below, we believe this use case will become the first ubiquitous Open banking use case.
Using Open Banking to deliver automated affordability checks helped not-for-profit lender Street UK to process 84% more applications without increasing headcount or risk appetite. Here's how they did it.
The real value in transaction data lies in its ability to help clients understand their customers better and support them more effectively. To realise that value, our products are designed to integrate into clients' existing business systems - and from today, we're expanding that to include CRMs
Bud has been hard at work delivering affordability solutions to some of the world's leading banks this past year. Each client is unique but there have been a number of common factors that consistently affected the speed and success of the project. Successful projects had a clear business case driven by a well-defined problem, a focus on user experience, a pragmatic roadmap, and clear stakeholder alignment.