Using open banking, Plaid enables your customers to provide you with access to their bank accounts with minimum effort in order to retrieve transaction data for use in credit decisioning. On average it takes users 11.5 seconds to open the module, find their bank and input their username and passwords to connect their accounts.

Using machine learning and AI, Digilytics’ unique technology enables financial data to be extracted from scanned documents such as bank statements and tax returns, then delivered to downstream systems such as credit decisioning in a variety of digital formats, including open banking to enable further processing.

AccountScore, an Equifax company, provides actionable insights and analytics from bank transaction data, providing credit analysts with an up-to-date and accurate picture of a company’s activity, enabling them to better understand applicant’s businesses and make better decisions.

IDnow enables lenders to digitally verify the identity of prospective customers throughout the world quickly and efficiently, improving customer experience whilst meeting the highest KYC and AML regulatory requirements whilst leaving behind time-consuming and wasteful manual processes.

Flowcast enables better credit decisioning by using its patented machine learning algorithms to create high-performing predictive models which reduce risk and unlock credit to businesses by predicting the ability of a business to repay its loans, the likelihood of dilution, and the risk of delinquency.

One of the three major US bureau, Equifax’s credit reporting is already built into SFP Credit & Risk, enabling your team to go beyond the traditional credit file and gain deeper insights into payment transactions, financial behaviors, employment information and more to make more informed credit decisions and mitigate risk.

Estimate’s models deliver accurate credit risk scoring based on customer transaction data shared via open banking in a fully digital process that can be easily integrated with legacy systems and existing policies, returning data including PD score, maximum credit limit and cashflow overview to support decision making.