Goodlord partners with Tink

Following this deal, Goodlord will leverage Tink’s Income Check technology in order to offer its clients and tenants fast, secure, and effective referencing, as well as to improve its fraud detection and fraud management capabilities. 

The Income Check technology was designed to enable instant verification of a potential renter’s income using secure, up-to-date data that is taken directly from their bank account. Customers and renters have the possibility to consent to the process of connecting to their bank account, where incoming transactions over more than 12 months can be categorised instantly as pension, benefits, cash deposits, or salary. 

Furthermore, the solution will provide an improved alternative to current affordability checks, making it easier to offer landlords and agents the capability to verify income in a secure and digitalised way. This service will allow Goodlord to streamline the income verification procedure while reducing the time it takes for any application to be approved as well. 

The integration of Tink’s solutions and products is set to optimise approval rates, minimise the possibility of fraud, and limit the number of incomplete applications by enabling tenant income claims to be effectively verified. 

Tink’s recent partnerships 

Europe-based Open Banking platform Tink had multiple partnerships in the last couple of months, covering multiple geographies and industries. 

In April 2023, instant credit provider Younited partnered with Tink for accurate affordability assessments. The deal was set to allow Younited to provide immediate financing services to more European customers and companies. 

Younited would receive clients’ up-to-date financial information and data fast and would process credit applications easily while leveraging Tink’s data aggregation and pan-European connection. This allowed Younited to input pertinent data into its AI-based algorithms, resulting in a holistic and accurate view of applicants’ spending patterns and income streams. It also offered the company a simplified and accurate affordability assessment with an instant conclusion. 

Earlier in March, Italy-based ConTe.it Prestiti collaborated with the Open Banking platform to provide clients with an improved lending application experience. 

Throughout this deal, ConTe.it Prestiti was set to use Tink’s Income Check product in order to gain the ability to make more accurate assessments. The primary goal of the partnership was to allow ConTe.it Prestiti to embed Tink’s technologies to expand its operation across Italy. Since Tink’s Income Check was also able to streamline the verification process, it offered the capability to minimise the time and costs needed to apply for a loan, improving the customer experience as well.