When a customer applies for a loan or wants to conclude a leasing contract, he usually has to prove that he can pay the monthly installments. With our Universal Banking Access (UBA) interface and our creditworthiness check service, customers no longer need to submit the relevant documents manually, which is time-consuming. At the same time, the lender or lease provider receives a sound basis for decision-making in real time.
Comparison portals are becoming increasingly popular because consumers can use them to compare offers from the comfort of their own homes, including in the area of loans and leases. If they then turn to the provider with the most favorable conditions from their point of view, they are often faced with a mountain of work. After all, the financial service provider or leasing company does not want to run the risk of default and requests the relevant documents. This typically includes salary slips, receipts for other income (e.g. from renting) as well as for the expenditure situation, health insurance contributions, etc. Compiling these documents manually is extremely tedious and time-consuming. Checking them is equally time-consuming, because the lender or lessor often has to process the documents manually in order to obtain an overview of the applicant’s financial situation. The risk that the customer will decide in the meantime in favor of another, faster provider is high. In addition, it remains open whether the prospective customer actually submits all the relevant documents.
Less effort for both sides
With UBA and our credit check service, we reduce the effort for both sides to a minimum. This is because UBA enables direct access to the transaction data of customer accounts via third-party service provider interfaces of all banks. We use these for a credit check and then provide the result to the financial service provider or leasing company in real time. If an existing customer applies for a loan from their house bank, the route via UBA is of course omitted and we use the transaction data directly for our calculations after obtaining consent. In one way or the other, the clerk obtains a sound basis for making a decision in the shortest possible time. For the customer, in turn, there is no need for the time-consuming compilation of various documents.
In addition to the fully comprehensive solution with application route for the end customer and dashboard for the intermediary, the services can also be conveniently integrated into existing systems via an API interface.
Would you like to learn more? Then we look forward to hearing from you.
