Product

Open Banking as a Service

Helping you use bank account information without significant upfront investment or technical integration. Get up and running with a safe, secure and effective Open Banking trial in less than seven days to give you access to powerful categorization and actionable insights.
Product Overview

Open Banking as a Service (OBaaS®) delivers a quick and affordable way to implement a secure end-to-end Open Banking solution. 

This will accelerate confidence that your customers will go through the consented Open Banking sign-up journey to share their powerful account transaction information, delivering actionable insights to drive more informed credit risk and affordability assessments for both consumer and SME lending. 

We can provide an end-to-end solution which can help you to start using bank transaction data without the significant cost and complication of  implementing your own Open Banking customer journey.

Key Benefits

Helping you replace the need to collect bank statements and pay slips from applicants with secure, real-time and user-friendly Open Banking data.

  • No technical integration necessarily required

  • Covering the entire customer journey from capturing consent to supplying data insights

  • Includes measurement of key business metrics:

  • Customer take-up rate and satisfaction

  • Measuring uplifts in income’s verified, referrals approved and identities digitally assessed

  • Opportunity to use data for future use case

Fundamentals of OBaaS®

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Unlimited Enquiries
Six month pilot with unlimited enquiries.
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Dashboard
Understand actionable insights, via real-time delivery of an underwriting dashboard powered by a categorisation engine.
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Results
Analyse uptake rates, incomes verified, referrals approved, and identities digitally assessed.
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Value
When the value is proven, integrate the data into your decision engines.
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API
Fully integrated API available for automation.
OBaaS Journey
Open Banking as a Service - User Journey Animation
Make faster, more accurate decisions with integrated deployment

Once you have proved the value of Open Banking data using our turnkey solution, we can help you integrate transaction data insights into your existing user journey and help you make make more accurate automated decisions.

Automated decisions, powered by APIs

We can connect you directly to your customer’s transaction data using APIs to help you automate credit decisions based on Open Banking insights and improve your customer experience.

We build our API solutions with your developers in mind, to make it as simple as possible for you to implement. Visit our Developer Portal where you can explore our APIs, review the documentation to learn how they work and test them out in our sandbox.

Related Products and Solutions
Open Banking
Helping businesses use transaction data to drive better customer understanding, better decisions and better products.
Need Help?

Get more information about our services and products

Ready to see more?

Contact an Equifax representative today to request a demo.

Need Help?

Get more information about our services and products

Ready to see more?

Contact an Equifax representative today to request a demo.