Younited joins forces with Tink

This collaboration allows Younited to provide immediate financing to more European consumers and companies.

Younited receives clients' up-to-date financial data in seconds and processes credit applications instantaneously because of Tink's data aggregation and pan-European connection. This allows Younited to input pertinent data into its own high-end AI-based algorithms, resulting in a holistic, accurate, and up-to-date view of applicants' spending patterns and income streams, allowing for a simplified and accurate affordability assessment with an instant conclusion.

Data-driven lending procedures not only simplify affordability assessments, but also ensure that better credit may be supplied to clients by being more accurate, inclusive, and fair by leveraging bank account data to gain a more comprehensive perspective of an applicant's finances. Furthermore, the use of Open Banking connection provides a lot easier experience for customers, with fewer papers to transmit and a much speedier overall procedure.

The benefits of the partnership

Younited has pioneered new disruptive technologies, such as applying Open Banking to credit decisioning, in five countries (France, Spain, Portugal, Italy, and Germany), making life simpler for consumers, banks, fintechs, and merchants.

When it comes to creating an accurate credit risk assessment, having a complete and up-to-date picture of someone's financial condition is critical. With the possibilities enabled by Open Banking, Younited can instantaneously access up-to-date transaction data, ensuring that their consumers have access to the financial services they need, at a rapid pace.

Younited and Tink's connection is now growing to include financial advice. Customers may quickly access Younited Coach, which provides free tailored analysis of their financial status as well as advice and recommendations to help them manage their overall budget more successfully, by leveraging the same Open Banking data that underpins Younited's lending decision.

Tink’s past collaborations

Tink teamed with loan broker Sambla Group in October 2022 to provide lenders with more precise affordability evaluations. Sambla Group will include Tink's comprehensive risk product suite, which provides services such as Income Check, Risk Insights, and Expense Check, as part of this relationship. As a result, lenders using the Sambla Group network will have access to real-time data, allowing them to conduct faster and more accurate affordability evaluations. The implementation also intends to assist loan applicants in obtaining the finest offers.

Later, in March 2023, ConTe.it Prestiti joined forces with Tink to improve the lending application experience for clients. Through this collaboration, ConTe.it Prestiti will be able to generate more precise affordability evaluations by leveraging Tink's Income Check tool. Income Check enables banks and lenders to rapidly check a person's income by using safe, real-time data from their bank account. Clients may connect their bank accounts with a single click or by using facial recognition technology. The algorithm then examines the user's bank account and analyzes income-related transactions dating back more than a year to classify them as salary, pension, benefits, or cash deposits.