Affordability assessments
The fastest and most accurate way to evaluate affordability
Our industry-leading transactional data analysis means you can drive operational savings and grow your customer base.
Leaders building with Bud
Context
Credit reference data alone can leave customers behind
Growing numbers of people (including those who are self-employed, in gig economy employment or who have a thin or poor credit history) are unable to access credit.
Meanwhile, many lenders have tightened their lending criteria and some rely on credit reference agency data, which can be inaccurate, to make decisions.
Solution
Lend using transactional data analysis
At Bud, we provide industry-leading transactional data analysis so you can lend with confidence, knowing that you’ve taken a robust approach to the decision and avoiding defaults.
We make these capabilities available either as a set of APIs which can be integrated into existing systems, or via a plug-and-play dashboard that’s ready to deploy straight into your assessment centres.
Affordability assessments
Outcomes
Financial inclusion
Make your processes more transparent, widen your lending pool and grow your loan book without changing your risk appetite.
Make your processes more transparent, widen your lending pool and grow your loan book without changing your risk appetite.
Fewer defaults
Reduce risk by having a complete picture of your applicants’ financial position to guide credit decisions.
Reduce risk by having a complete picture of your applicants’ financial position to guide credit decisions.
Better customer experience
Prevent application drop-offs with a slick experience and reduced time to decision.
Prevent application drop-offs with a slick experience and reduced time to decision.
Don't take our word for it
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“By implementing Bud's open banking service, we have been able to stay true to our promise of being a customer-centred brand that supports a streamlined approach to lending. Open banking allows us to consider our customers’ welfare and affordability at a more sophisticated level and this is something that we are proud to be able to offer as a responsible lender.”
Moneyboat
Income verification
Serve those with unusual income patterns.
Affordability monitoring
Identify newly eligible or vulnerable customers.
Collections
Support struggling customers.
