13 January 2023

ClearScore launches Open Banking-based B2B unit

Written By FinTech Alliance in FinTech

ClearScore launches Open Banking-based B2B unit

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.

Read more here

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