The future of credit checking and digital lending: fairer, faster, secure

26 / 09 / 2023

In this fact sheet, we highlight how banks and credit lenders report abandonment rates of up to 75% during the application process leading to loss of business and frustrated customers. Worldline’s Credit Insight can help you change this situation and improve conversion in the lending market.

1 min.

PSD2 Online banking Customer experience
A tablet showing the future of credit checking and digital lending
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Open banking data provides lenders with real time access to a borrower’s financial data, directly from their bank. Whether lending to consumers or businesses, base your decisions on up-to-date, error free data that provides a clear view on affordability and cashflow. Embrace a faster, fairer, data-driven credit assessment that offers clear benefits for everyone involved.

Increase your acceptance rate up to 40% or decrease your default rate by up to 50%.

Challenge

  1. Assessing a customer's credit risk accurately is difficult and time-consuming.
  2. Many lender processes don't meet customers' expectations around ease-of-use, time-to-yes and user experience.
  3. Validating borrower documents and checking for signs of fraud is difficult.

Opportunity

  1. Use open banking data to get a real-time, concise view of the borrower's financial situation.
  2. Create a faster, friendlier user journey.
  3. Eliminate paper bank statements and reduce time-to-yes.
  4. Receive data directly from customer's bank, guaranteeing the authenticity of the data

Lenders have access to accurate information in seconds: Increase your acceptance rate while decreasing your default rate.

Gain direct access to banking data, guaranteeing the authenticity of the information.

Automate your decisioning or significantly redcue the time-per-check.

Provide a faster, more consistent customer journey, reducing the risk of abandonement.

How can Worldline help?

Borrowers are directed to our simple GUI where they can log into their bank and securely share their data. 

This banking data is then retrieved by Worldline and analysed using best-in-class machine learning techniques. Within seconds, these insights are delivered back to the lender to continue processing the borrower's application.

Reach to 3500+ banks across Europe

Credit checking made fast and accurate with Credit Insight.

Worldline is a global leader in secure payments and trusted transactions. We are the forefront of the digital revolution that is shaping new ways of paying, living, doing business and building relationships.

c. €4,4 BN

Revenue

18,000+

Worldliners

50+

Countries

c.€250M

Spent in R&D

Would you like to learn more?

Simply fill in a few details and our experts will get in touch.

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