Credit, Collections & Insolvency News
Credit Kudos and Lending Works have announced a partnership that creates one of the first commercial applications of the new Open Banking standard.
Credit bureau Credit Kudos and Lending Works, peer-to-peer (P2P) lending platform, are partnering to enable customers to benefit from the UK’s Open Banking initiative, a secure way for banking customers to take control of their financial data. Credit Kudos and Lending Works’ partnership is one of the first initiatives to use Open Banking to improve customer experience in the finance industry.
Freddy Kelly, CEO of Credit Kudos “With Open Banking, customers now have control of their own financial data. Lending Works and Credit Kudos are using Open Banking to provide borrowers with a faster and easier way to verify income and demonstrate creditworthiness. We’re excited to partner with Lending Works, who are as technology-obsessed as we are at Credit Kudos, to raise the bar for customer experience in the lending industry.”
Nick Harding, CEO of Lending Works “We are fanatical about creating best-in-market customer experience in consumer credit. Open Banking provides us with an opportunity to significantly enhance the ease and speed of applying for a loan, while simultaneously improving our credit underwriting process. We are thrilled to be able to further enhance the positive experience customers have when applying for a Lending Works loan. Credit Kudos have already proven themselves as an early leader in their market, and we believe they have a very bright future in providing Open Banking services to other technology-led businesses.”
