Powered by Open Banking, the ‘Financial Passport’ provides an easy-to-understand overview of income, expenditure, assets, and liabilities for the last twelve months. Consumers can use the PDF to better understand their financial position and borrowing power or share it with their broker to facilitate a conversation about their financial future. The report includes a monthly overview of a users’ income and expenses, an overview of all their assets & liabilities, and a detailed breakdown of where they spent their money.
The Financial Passport is available for consumers in Frollo’s free personal finance management app as an additional feature. In the app, consumers can link their financial accounts using Open Banking to get an overview of their finances, set budgets, and track their financial goals. Now, they can also download an easy-to-understand snapshot of their finances as a PDF.
In addition to making the Financial Passport available to consumers in the Frollo app, Frollo also works with lenders, brokers, and fintechs to improve their lending decisions by integrating directly into their application process.
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