Žltý melon, Salt Edge partner for Open Banking lending

Tuesday 17 August 2021 14:34 CET | News

Žltý melón, a Slovak P2P lending platform, joined forces with Salt Edge, a player in developing Open Banking solutions, to implement PSD2-integrated access to clients’ bank data.

Žltý melón works as the connecting link between people who need to borrow money with those who want to invest. Joining forces with Salt Edge, Žltý melón gets access to more than 2,500 banks across Europe, including Slovak and Czech banks, thus having the capacity to make the loan application flow for their clients more streamlined and frictionless.

Open Banking adds a digital boost to the risk verification process, which was previously burdened by the need to download the PDF file from internet banking and then upload those files to the Žltý melón system. Now, clients need to provide their consent and bank data will be transferred instantly in the automatic mode.

Helped by Salt Edge’s data aggregation and data enrichment solutions, Žltý melón will be able to run enhanced data analytics and automate additional parts of the verification and risk analytics process. By getting a 360-degree view of a borrowers’ financial situation and behaviour, Žltý melón can offer the clients additional discounts on interest rates for their loan.

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Keywords: P2P, partnership, Open Banking, Salt Edge
Categories: Banking & Fintech
Countries: Slovakia
This article is part of category

Banking & Fintech

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