LendInvest partners with Credit Kudos to boost its lending decisions

Monday 5 April 2021 14:21 CET | News

Property financing platform LendInvest has teamed up with credit reference fintech Credit Kudos to strengthen its underwriting through Open Banking, according to AltFi.

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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Keywords: partnership, Open Banking, credit scoring
Categories: Banking & Fintech | Online & Mobile Banking
Countries: United Kingdom
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Banking & Fintech

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