D•One, the open banking unit of The ClearScore Group, has announced a partnership with Zopa Bank.
The latest integration will see Zopa Bank add D•One to its partners that offer open banking connectivity as well as transaction categorization intelligence.
D•One will be focusing on Zopa’s loan origination experiences.
With credit cards, loans and car finance in its lending portfolio, the recent collaboration allows Zopa Bank to accurately assess clients’ income, as well as their affordability.
This partnership supports responsible lending. It is expected to offer consumers who have limited credit histories with access to more credit options.
D•One provides Zopa Bank the option to integrate consumers’ spending data into traditional lending.
This data may be used to enable better decisions, with accurate data resulting improved outcomes for credit applicants as well as for lenders.
D•One may assist Zopa Bank with income verification, risk insights, as well as affordability assessment.
Tim Kelleway, Director at D•One, stated:
“Zopa Bank is a long-standing partner with the wider ClearScore Group, and we are delighted to extend that partnership to now include open banking services via D•One. Forward-thinking lenders such as Zopa Bank appreciate the power of alternative data to better understand financial behaviours and bring about more accurate lending decisions. Open banking helps assess borrower risk more fairly, which is a positive innovation for the credit market.”
D•One offers a suite of Open Banking connectivity in the United Kingdom and has a deterministic categorization model developed more than 12 years and with more than 7 billion transactions.
Lenders like Zopa may harness these capabilities on and off the ClearScore platform. D•One works well in a lender’s digital estate and in ClearScore’s credit marketplace.
D•One operates a cloud-powered technology stack with a micro-services architecture for speed and reliability.
Its open banking connection and categorization services are offered to lenders or introducer partners to enable credit brokering and application processes, providing consistent functionality and decisioning solutions.
