Property Investor Today features Finexer’s perspective on how open banking can modernise property payments and referencing, as tenant referencing still relies on emailed payslips. Rent is frequently collected by card or direct debit, with reconciliation completed manually at month-end.
Finexer sets out how open banking addresses these inefficiencies directly, through consented, real-time access to bank-verified financial data and the ability to initiate payments from a customer’s bank account without routing through card schemes.
The article outlines four practical applications for property operators: tenant affordability checks, Pay by Bank collection for rent and deposits, source of funds support, and bulk payouts to landlords and contractors. It positions Finexer as infrastructure combining both account information and payment initiation under a single FCA-authorised integration.
Ravi Ranjan, CEO and Co-Founder of Finexer, said: “Property operators have long been forced to choose between speed and verification. Open banking removes that trade-off by giving platforms a single, FCA-authorised connection to bank-verified data and payments, so affordability checks, rent collection and payouts can run on the same trusted infrastructure.”
Read the full article: Open Banking for Real Estate Firms: How UK Property Operators Can Improve Tenant Checks, Rent Collection and Payouts – Property Investor Today
About the Author
The Finexer Team is a collective of fintech engineers, payments specialists, and Open Banking experts working on financial infrastructure for UK businesses. Finexer builds API-driven solutions that allow companies to access real-time bank data, initiate Pay by Bank payments, and integrate financial services directly into their products.