Credit, Collections & Insolvency News
TransUnion has launched the latest evolution of its end-to-end, API-driven Open Banking solution, designed to assess income and expenditure, affordability and creditworthiness. New developments are wide-ranging, with improved analytics capabilities and a streamlined screen journey which includes anti-money laundering (AML) checks. These checks must be conducted as part of the Open Banking process, and are…
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Analytics and decision management provider FICO has announced that it has partnered with OpenWrks – provider of Open Banking based digital engagement applications. Under the partnership, FICO plans to combine OpenWrks financial budgeting and conversational AI technology with FICO’s market-leading integrated collections and omni-channel platform to assist creditors in making the most appropriate customer decisions…
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Credit Kudos has been announced as one of the key Fintechs working together with PwC to build the digital banking ecosystem sandbox platform – a PwC project to demonstrate the ease of shifting a legacy bank model to a partnership banking model. PwC has brought together a number of cloud-based platforms using SaaS APIs ,…
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Lending platform. Freedom Finance has announced the launch of ‘Fusion Score’ the first open banking enabled score that creates a single metric that interprets a customer’s eligibility based on both credit and transactional data, a first for the lending industry. The Fusion Score can unlock better rates or a smoother journey for those with established…
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Online gambling operator, BetVictor has announced a partnership with global information and insights company TransUnion. The company says that whilst the gaming sector is experiencing a significant impact in light of the COVID-19 pandemic, with major events and sports fixtures cancelled in light of social distancing, it is as important as ever to ensure consumers…
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Money-saving app Snoop has launched ahead of schedule in an effort to help consumers hit by the impact of COVID-19 cut costs. The app, founded and led by former Virgin Money boss Jayne-Anne Gadhia, uses open banking technology to connect to a customer’s bank account and credit cards and analyse the data to identify areas…
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The Financial Conduct Authority (FCA) has set out its business priorities for the year ahead – with specific focus on the challenges presented by the coronavirus (Covid-19) pandemic. In responding to the challenge of coronavirus the FCA will focus on ensuring that financial services businesses give people the support they need, that people avoid scams,…
Read moreStepChange Debt Charity has announced that it is entering into an exciting new partnership with fintech innovator OpenWrks to bring the opportunities offered by Open Banking into its services. StepChange’s new Money Coaching tool, which will be made available to clients accessing support with their persistent credit card debt, will utilise OpenWrks’ sector-leading Open Banking…
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Yobota, the cloud-based banking platform provider, has selected fintech, Credit Kudos, as its open banking credit bureau, allowing Yobota customers to significantly improve affordability and credit risk modelling. Currently, financial institutions are operating on complex, legacy technology architectures many of which were developed in the 1970s/80s. This not only increases operational cost and risk but…
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Buy to let mortgage lender Molo has announced an open banking technology partnership with Experian. Molo is the UK’s first fully digital mortgage lender has streamlined the traditionally painful mortgage process, granting near-instant decisions, along with fair, secure, direct-to-customer lending. No paper, no appointments, no middlemen and no months of waiting for a decision –…
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Specialist consumer lender, 1st Stop Group has announced an open partnership with AccountScore. AccountScore provides actionable insights and analytics on bank transaction data for its clients. The partnership will enhance the service 1st Stop offers customers, enabling them to use Open Banking to monitor their financial fitness and identify areas for improvement. The data provided…
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Two years on from its launch in the UK, only three fifths (60%) of UK small business decision makers know about Open Banking and are therefore unaware of the profound differences it could make to their business, and the global economy. A new report from intuit QuickBooks has revealed the findings of its global research…
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In the year up to November 2019, UK households borrowed almost as much as the Government, demonstrating that debt remains both a private and public sector issue, according to the January 2020 Money Statistics, produced by The Money Charity. The latest data available from the Bank of England and ONS shows that UK households borrowed almost…
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