Hastings Direct Loans, part of the Hastings Group, utilises Open Banking data from D•One to evaluate prospective borrowers’ income and, in turn, their affordability via the ClearScore marketplace. Both companies expressed their desire to focus on addressing customer needs, expanding their customer base and driving more sophisticated risk management solutions.
D•One provides a suite of Open Banking connectivity, having a deterministic categorisation model developed over 12 years and with over seven billion transactions being categorised. Moreover, its fully cloud-based tech stack with a microservices architecture ensures speed and reliability.
Hastings can leverage these features both on and off the ClearScore platform, as D•One can function in a lender’s own digital estate, as well as in ClearScore’s credit marketplace.
Hastings Direct processes the bank transaction data supplied by D•One to make more informed credit decisions and perform detailed affordability calculations, resulting in a more accurate assessment of borrower credit risk, while giving broader access to affordable loans and ensuring a smooth process for customers.
An increasing number of loan providers are leveraging D•One’s volumes of banking data to offer better risk management, transaction categorisation intelligence and Open Banking connectivity. This number reached over 50 pertnerships.
Hastings Direct is the 20th partner to sign up with D•One in 2024. Other collaborations include UK-based financial companies Abound, Zopa Bank, Plend and Salad Money, all of which leverage D•One’s volume of data for Open Banking solutions and better customer behaviour assessment.
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