Sambla partners with Tink for a more inclusive lending process
Tink has teamed up with Sambla Group to offer the lenders in its network access to more accurate affordability assessments. Sambla Group is adding Income Check, Risk Insights, and Tink’s latest tool, Expense Check to improve the lending application process.
Tink has teamed up with Sambla Group to offer the lenders in its network access to data-driven affordability assessments.
Sambla Group is adding Income Check, Risk Insights and Tink’s latest tool Expense Check to improve the lending application process.
These products use real-time data to review applicant spending habits and instantly validate income and expenses with open banking.
Sambla Group’s philosophy is that anyone should be able to access the best bank loan possible. And now their network of 100 Nordic lenders has access to Tink’s risk product suite, helping them make more informed and accurate decisions when assessing loan applications.
Smarter, better, more inclusive lending
Traditional credit checks are often limited, requiring a lot of manual input from both the applicant and the lender. This often leads to an outdated view of their creditworthiness, and in these turbulent economic times, giving applicants a level playing field is more important than ever. By harnessing the power of open banking, real-time data can help to review an applicant’s spending habits.
Sambla has opted for a suite of three different products. Income Check, which seamlessly verifies a person’s income with secure, up-to-date data directly from their bank account. Expense Check, which identifies spending patterns, and which costs recur on a monthly basis. And finally, Risk Insights allows lenders to build a solid customer profile by analysing their spending data.
These products allow lenders to get a granular overview of relevant transactions to feed into customers' affordability analysis – instantly validating income and expenses and assessing their repayment ability.
‘The future of credit and smart financial decisions, as we envision it, starts with a deeper understanding of each individual's financial track record. With Tink's risk products we can get the level of insights we need without adding unnecessary friction for customers and partners, allowing for a completely digital experience. The way we can now shape our products will truly empower our customers and will give Sambla Group the opportunity to help them in the best possible way,’ said Adam Ryman, Chief Product Officer at Sambla Group.’As lending processes come increasingly under the spotlight, ensuring accurate real-time insights are critical in today’s assessment models,’ said Christophe Joyau, Head of Banking & Lending at Tink. ‘It’s great to see Sambla Group harnessing Tink’s open banking powered risk products and leading the charge for fairer, more accurate affordability models to give customers access to the financial services they deserve.’
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