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How-to guide: AFFORDABILITY

How to use Open Banking to assess Affordability in minutes

Download our definitive guide to find out how you can improve decision models, cut application times and accept more applications without increasing your risk tolerance. 

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Why Affordability with Bud

Problem:

Assessing affordability is a long, inefficient and costly process

The credit application process is broken. Credit bureau data reacts too slowly to help you manage credit-lines. Lenders are faced with a serious challenge to accelerate and improve existing processes while maintaining a stable level of new customer acquisition and accurate affordability assessments. 

Solution:

Fast, simple, efficient onboarding with Open Banking

Open Banking with Bud presents lenders with a unique opportunity to improve their businesses by designing a fast, reliable affordability assessment based on real-time, enriched data about the applicant. This provides lenders with insights to reach a credit decision in minutes.

A definitive guide to affordability and credit risk

How-to guide

Over the last year, Bud has worked on delivering affordability solutions with some of the world's leading banks. We've seen first hand how Open Banking can completely revolutionise both the user experience and the back office efficiency of the lending process.

We've also seen the common pitfalls that can scupper affordability projects and learned to navigate them.

This guide combines data from our recent Open Banking report, designed to help digital leaders articulate the case for deploying Open Banking tech, with 1st hand advice from 1000s of hours spent working with complex organisations on affordability projects. We hope you find it useful.

Open Banking for affordability and credit risk

Download the guide to learn how to get your affordability project in motion

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