Open Banking featured Affordability

New to the platform: Introducing the Benefits Finder API

For lenders, particularly those with a traditionally thin-file customer base, developing a nuanced picture of customer income is crucial. Our Benefits Finder API is the first on the market to identify all 31 of the main UK benefits reliably.

Sticking with our “Ronseal” naming conventions, Benefits Finder, the newest enrichment added to the platform, detects which government benefits customers are receiving.  This includes common benefits like child benefits, Disability Living Allowance and the new Universal Credit payments as well as many others. Currently 31 UK benefits are supported, but the Benefits Finder API is extensible to any region with broader region support coming soon.

How does it work?

Using data from the transaction, and building on top of the information provided by our Categoriser, the Benefits Finder API is able to match transactions up to one of the known benefit types in the given region.

In the following example, we see the enrichment generated for a UK disability living allowance benefit:


How are clients using it?

A lot is talked about the changes in the way people are spending their money but much less is said about changes to the way people earn in. Understanding income is critical to building a financial system that works for the massive and increasing number of people who earn their money in what the system currently thinks of as non-traditional ways. 

Everything we do is about helping our clients create a nuanced picture of their customers to serve them appropriately and to do that it's important to have access to far more granular information than the broad catch-all categories that most providers offer.

For lenders, a detailed breakdown of income down to individual benefits provides a more accurate affordability assessment and helps offer appropriate credit, particularly to thin-file applicants.

For personal finance management, this extra detail can easily let people check which benefits they receive, and how often, and find any discrepancies which may mean they’re eligible for more than they currently receive.

How do you get access to it?

The Benefits Finder API is being rolled out to our Intelligence product. To find out more about how Bud can support your goals, get in touch with the team here.


For more on how we help organisations transform their affordability processes, get in touch or download the factsheet for our Assess product below.

New to the platform: Introducing the Benefits ...

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