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
Property rental services, car leasing & gaming
Document actual regular expenses to cater to new regulatory creditworthiness guidelines accelerated by EBA and local authorities.
Document actual regular expenses to cater to new regulatory creditworthiness guidelines accelerated by EBA and local authorities.
Get a granular set of relevant transactions to feed into your affordability assessment and improve your underwriting process.
Get a granular set of relevant transactions to feed into your affordability assessment and improve your underwriting process.
Simplify the application process with pre-filled fields application forms and verified transaction data instead of manual input and paperwork from the applicants.
Simplify the application process with pre-filled fields application forms and verified transaction data instead of manual input and paperwork from the applicants.
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.
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.
“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.”
CRO at Bank Norwegian
Enable users to apply for your services seamlessly and assess their affordability instantly.
GF Money reduced application processing time from 2 hours to less than 10 minutes.
A significant drop in various first and third-party fraud was seen for customers validating income by transactions instead of payslips.
Substantial increase in end-user satisfaction for customers applying Tink’s affordability assessment solutions to their loan application process.
Open banking has the power to simplify and streamline the loan application process, to the benefit of both lenders and consumers.
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%).
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.
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.
Contact our team to learn more about what we can help you build – or create an account to get started right away.