Credit, Collections & Insolvency News
The Financial Conduct Authority (FCA) has granted AperiData, AISP (Account Information Service Provider), CIS (Credit Information Service), and CRA (Credit Reference Agency) permissions.
With the FCA’s granting of permissions, AperiData says that it is uniquely positioned to begin putting their services to greater and more innovative uses.
The company says that it operates at the intersection of three high growth areas: Credit, Open Banking and Software as a Service and now seeks to breathe innovation into the financial services industry.
AperiData’s product offerings aim to support businesses in making smarter credit decisions, while simultaneously giving consumers simpler access to more in-depth information about and control of their own credit scores.
The company is led by an experienced team who collectively represent almost a century of credit risk experience within both challenger and Tier 1 banks. Their products use Open Banking data, coupled with traditional data sources, to facilitate quicker and more accurate assessments of a consumer’s financial position, unlocking access to a broader choice of financial products. Going beyond traditional credit scoring, their goal is to provide a more rounded view of consumer creditworthiness.
Andrew Bonsall, COO at Aperidata said “Lending processes and credit scoring methods have largely remained unchanged for decades. With so many new and emerging technologies and data sources, this brings some exciting opportunities to reshape the credit industry.”
“Credit assessment at present is a 20th-century solution to a 21st-century problem. Our products enable businesses to harness the power of open data to make smarter and fairer decisions for businesses and their customers.”
