Level up your affordability assessments
Upgrade your application process and build a solid customer portfolio via optimised risk decisioning. Verify customer financial data instantly to avoid delays.
Some industries we serve:
Retail banks & consumer finance
Challenger banks & online lenders
Assess and validate regular expenses to comply with regulations
Document actual regular expenses to cater to new regulatory creditworthiness guidelines accelerated by EBA and local authorities.
Assess and validate regular expenses to comply with regulations
Document actual regular expenses to cater to new regulatory creditworthiness guidelines accelerated by EBA and local authorities.
Analyse affordability with a granular set of data
Get a granular set of relevant transactions to feed into your affordability assessment and improve your underwriting process.
Analyse affordability with a granular set of data
Get a granular set of relevant transactions to feed into your affordability assessment and improve your underwriting process.
Onboard credit customers within minutes (instead of days)
Simplify the application process with pre-filled fields application forms and verified transaction data instead of manual input and paperwork from the applicants.
Onboard credit customers within minutes (instead of days)
Simplify the application process with pre-filled fields application forms and verified transaction data instead of manual input and paperwork from the applicants.
Bank Norwegian: automated and simplified
Challenge
As they expanded internationally, Bank Norwegian wanted to provide faster, simpler user journeys to their customers. They noticed that loan applications were one of the highest points of friction.
Solution
Tink’s Income Check lets applicants validate their earnings instantly and securely. Once the applicants choose the loan specifications to apply for, they simply click to verify, choose their bank account, and authenticate.
Income Check
Bank Norwegian: automated and simplified
Challenge
As they expanded internationally, Bank Norwegian wanted to provide faster, simpler user journeys to their customers. They noticed that loan applications were one of the highest points of friction.
Solution
Tink’s Income Check lets applicants validate their earnings instantly and securely. Once the applicants choose the loan specifications to apply for, they simply click to verify, choose their bank account, and authenticate.
Income Check
For industry leaders
“Responsible lending is all about granting the correct credit to the private individual that has the means to service the loan without compromising on other expenses. Tools such as those Tink provides for Bank Norwegian is an enabler of data that supports our philosophy as a provider of a pure digital customer journey.”
Peer Timo Andersen-Ulven
CRO at Bank Norwegian
Increase customer satisfaction and reduce fraud risk
Enable users to apply for your services seamlessly and assess their affordability instantly.
Faster time to money
GF Money reduced application processing time from 2 hours to less than 10 minutes.
Decrease fraud
A significant drop in various first and third-party fraud was seen for customers validating income by transactions instead of payslips.
Increase customer satisfaction
Substantial increase in end-user satisfaction for customers applying Tink’s affordability assessment solutions to their loan application process.
Open banking unlocks inclusive consumer lending
Open banking has the power to simplify and streamline the loan application process, to the benefit of both lenders and consumers.
15%
New consumer research from Tink has revealed that more than 15% of self-employed people in the UK say they have been rejected while trying to secure a mortgage, which is twice as many as the national average (7%).
£303 bn
In the UK alone, sole traders contribute a whopping £303 billion to the economy, highlighting the need for a more tailored, data-driven approach to financial support for the self-employed.
31.8%
New research from Tink has revealed that 31.8% of the participants stated being unable to verify assets or collateral was the most common reason for being unable to assess the applicant's creditworthiness.
Interesting reads
Affordability solutions that are leading the way in lending
Affordability and lending. Discover how open banking can help you get a more accurate picture of a potential borrower’s creditworthiness in our ultimate solutions guide.
The regulatory requirements in store for lenders – and how open banking can help
In the wake of the pandemic and the digital transformation of finance, consumers are borrowing money they can’t afford to pay back. But open banking holds the key to safely assess applicants’ creditworthiness.
28% of self-employed struggle to access financial services
Self-employed workers are being left out of financial services. Here’s how open banking can help.
Get started with Tink
Contact our team to learn more about what we can help you build – or create an account to get started right away.
