![](/images/newsimages/newday-goes-live-with-dâ¢one-s-open-banking-solutions.png)
UK-based D•One has announced that NewDay , an unsecured consumer credit provider, went live with its Open Banking connectivity and transaction categorisation solutions
UK-based D•One has announced that NewDay , an unsecured consumer credit provider, went live with its Open Banking connectivity and transaction categorisation solutions. Through this move, NewDay intends to offer optimised affordability assessments, support responsible access to credit, and increase financial inclusion.
In addition, the company’s customers are set to receive the ability to share transaction data through Open banking for an improved assessment of affordability. This provides individuals who have limited credit histories with access to credit options that they might have not benefited from before. Moreover, by integrating Open Banking capabilities, NewDay works towards further enhancing its lending decision-making features, which can lead to more opportunities for credit for a wider range of individuals. Also, the company developed its credit models leveraging D•One’s Open Banking connection and categorisation, which allowed it to support more customers in moving forwards with credit.
According to NewDay’s officials, the firm is on a continuous journey of determining new methods to optimise its ability to serve working Britain with access to credit. The addition of Open Banking is set to enable NewDay to enhance its underwriting assessments, thus better assisting its users and understanding their circumstances. The decision to partner with D•One was based on the latter’s functionality and flexibility, as well as its Open Banking features, which NewDay plans to integrate into its lending strategies.
How will D•One support NewDay’s development? By offering a suite of Open Banking connectivity across the UK and having a deterministic categorisation model, D•One focuses on enabling lenders, including NewDay, to utilise these features on and off ClearScore, which the former is part of. The firm’s solutions function both in a lender’s digital estate, as well as in ClearScore’s credit marketplace. Representatives from D•One highlighted that the integration of Open Banking into NewDay’s operations is set expand the company’s customer base and deliver them responsible access to credit.
D•One’s technology focuses on providing consistent functionality and decisioning solutions across all channels, supporting NewDay in extending its reach and offering a simplified and more optimised experience to borrowers. .
Jul 18, 2024 13:14
Original link