Category: Credit & Lending
-
60% Higher Approval Rates: Open Banking Credit Assessment
Open Banking Credit Assessment is a revolutionary approach to evaluating the creditworthiness of small and medium-sized enterprises (SMEs) by leveraging real-time financial data shared through secure Open Banking protocols What You Will Discover Small and medium-sized enterprises (SMEs) are the lifeblood of the UK economy, accounting for over 99% of all businesses and 60% of…
-
The Role of Open Banking in Modern Credit Scoring
Open banking is a financial services model that allows third-party developers to access financial data in traditional banking systems through application programming interfaces (APIs). This model completely changes the way financial data is shared and accessed. What You Will Learn From This Blog ✓ Understanding Credit Scoring ✓Traditional vs. Open Banking Factors ✓ Impact of Open…
-
Navigating Responsible Lending in the UK through Data-Driven Approaches
Introduction In the current financial climate of the UK, responsible lending has never been more crucial. With a landscape characterised by dynamic regulatory environments and evolving customer needs, the shift towards data-driven approaches stands at the forefront of innovation in the lending sector. Data-driven insights, grounded in the precise and real-time analysis of borrowers’ financial…