Offering better financial services through open finance

Strengthen credit risk models with transactional data
A consumer’s payment history is key to understanding financial health but credit history data covers only a part of the population with limited and often outdated metrics. With open finance transactional data, banks can integrate new parameters in their models to approve more loans without increasing risk profiles. Make more precise and automated decisions while reducing credit default risk by up to 50%.

Reengage inactive or rejected customers with personalized offers
Leverage the potential of enriched transactions and open finance data to better understand your customers’ financial behavior and identify financial products contracted in other institutions. Analyze your users’ consumption patterns to provide tailored offers with more personalized conditions. Reach up to 34% of new product acceptance after a new offer campaign based on open finance data.

Unlock new audiences to widen your funnel
Around 70% of bank loan applications are rejected based on users’ negative credit scores. Use open finance APIs as a source of complementary data to increase eligibility through third-party channels for ‘no-hit’ and ‘thin-file’ applicants. Reach new markets with lowered acquisition costs and grow your loan approval rates up to 30% for clients with little or no credit history.