What is Open Banking?
Open Banking is a piece of legislation that requires certain current account providers to allow trusted third parties, approved by you, to plug in and thereby view your account information securely.
Open Banking application
Please click on the relevant portals to provide your bank statements.
Why have I been sent this link?
If you have received this link via an introducer, our underwriting team have likely asked to review bank statements to gain a better understanding of your profile, to complete the assessment of your application.
How does it operate?
Open Banking allows a trusted provide to view your account data, such as income and outgoings which can make it easier for individuals and certain businesses to open new accounts, apply for credit, etc. and avoid the need for the completion of detailed assessment forms, similar to those required for a mortgage. It could also allow you if you had multiple current accounts to view them all in one place.
It is important to note that you do not share your personal account log-in information, this remains secure and with you at all times.
Learn more about how Consents.online works here.
Why do we use open banking?
This enables us to perform anti-impersonation checks and help verify your identity
Combining bank account insights with bureau data to improve our credit risk scorecard effectiveness
Providing a more detailed and insightful view of your finances which enables more accurate affordability decisions