Zopa, a peer-to-peer lender which is on its way to launching a digital bank, will be using Paylink’s cloud-based digital income and expenditure product, called Embark. This software solution will give Zopa an insight into customer affordability, including those who have experienced a change in circumstances and require a payment plan.

According to Peer-to-Peer Finance News, Embark captures information on a consumers’ finances, either manually with the customer or by accessing current account information using open banking. Embark also offers Credit Reference Agency integration, which means that lenders are then provided with visibility of a customer’s total debt position. Zopa loan customers who require additional assistance can access Embark via an online portal or be taken through the online form with the assistance of a customer services agent.

Additionally, the Embark tool allows users to access debt advice with PayPlan, a free debt advice companies in the UK. The built-in API enables customers to be digitally referred over for debt advice.