Credit Kudos will deploy its credit referencing tools as well as its Open Banking capabilities to help LendInvest provide a more secure service and make better, more informed lending decisions. By using Credit Kudos’ Open Banking-powered insights, LendInvest can speed up its decisioning process, with underwriting times for an applicant’s financial history having been slashed to just five minutes.
Now, when a customer applies for a buy-to-let mortgage with LendInvest, they’ll be asked to share financial data with Credit Kudos as part of the application. The fintech will then provide LendInvest with a holistic, up-to-date view of a person’s financial data, including bank transaction and loan outcome data.
The partnership has been live since February 2021 on LendInvest’s buy-to-let mortgages and will be rolled out across other services in the near future.
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