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Fintonic launches OpenInsights to promote Open Banking data analytics

Wednesday 5 July 2023 12:08 CET | News

Personal finance app Fintonic has developed OpenInsights, its new division specialised in designing advanced Open Banking services and data analysis for companies and financial entities.

 

The enrichment of transactional information from financial aggregation, with the support of artificial intelligence; and the analysis of anonymous data for market research are the focus of this division's activity.

Personal finance app Fintonic has developed OpenInsights, its new division specialised in designing advanced Open Banking services and data analysis for companies and financial entities.

Open banking data insights

OpenInsights offers a Software-as-a-Service (SaaS) solution that allows companies to extract the most value from open banking. By using advanced technologies such as artificial intelligence and machine learning, OpenInsights enriches transactional data from financial aggregation. In addition, with a series of specialised modules, OpenInsights offers a complete vision of the credit capacity of clients, generating an exhaustive list of indicators and its own credit scoring.

This solution has been successfully tested in the origination of consumer finance portfolios for major financial institutions in Spain, such as BBVA Consumer Finance, Santander Consumer Finance, and Cetelem.

Customer Insights

The OpenInsights Customer Insights team analyses anonymised data from Fintonic users to extract valuable information for market research in Spain. These reports and data sets allow companies in various industries, such as banking, insurance, fashion, food, and online services, to understand the behaviour of their customers and competitors.

In the month leading up to this announcement, several companies have used this data to improve their strategies, including examples such as the analysis carried out by IESE on ‘the behaviour of the fashion sector in 2022’ and ‘the price crisis 2022-2023: winners, losers’ and success strategies.’ These cases demonstrate that actual customer purchases are the best source of information available for market research.


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Keywords: Open Banking, data analytics, data aggregation, data, SaaS
Categories: Banking & Fintech
Companies: Fintonic
Countries: World
This article is part of category

Banking & Fintech

Fintonic

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