ClearScore has launched a business-to-business unit to help UK lenders tap into Open Banking data for lending decision
IN BRIEF:
The new unit, D•One, is built on ClearScore's recent acquisition of Money Dashboard
D•One combines open banking connections to 46 financial institutions and a transaction categorisation engine which allows clients to classify and analyse bank account transactions
The two core services enable D•One to identify a range of financial behaviours and more accurately categorise the riskiness of borrowers
What does this mean?
Justin Basini, CEO ClearScore, says: "There is a huge opportunity for lenders to use open banking to enhance the underwriting process by identifying financial behaviour that materially splits risk within credit score bands and allows more accurate affordability assessments.
