Speed up and improve your lending decisions with Account Information Services

Whether you’re lending to individuals or to SMEs, creditworthiness decisions are a critical and time-consuming step. It’s important to provide potential customers with a speedy answer, while also keeping errors and risks down. By leveraging Account Information Services (AIS), you can reduce risks, speed up decision-making and reduce costs.

Transaction behaviour is a key predictor for creditworthiness. By drawing account information directly from the bank, you get real-time, up-to-date insight into your customers’ financial position: salary, other income and expenses. And because the information comes organised and in digital form, you reduce the number of hard-copy documents you need to work with.

Benefits for customers

For your customers, AIS can reduce the hassle involved in applying for a loan or mortgage. Instead of printing, checking, scanning and copying bank statements from several accounts, they can simply give you viewing access of their accounts.

Benefits for lenders

  • Reduce fraud risk. Your customers’ account information comes directly from the bank, so you can trust that it’s accurate and authentic.
  • Reduce default risk. You can review your customers’ transactions over a longer period of time, making it easier to evaluate whether an applicant can afford the loan. And because sharing information with AIS is so easy, customers can conveniently share additional bank accounts for an even more complete picture.
  • Save time and labour. No more entering or checking copied or photographed bank statements by hand. AIS data is machine readable and obtained directly from the YTS API.

Together, AIS and Data Enrichment lead to better, faster decision-making and potential savings that can be passed on to your customers as an incentive. Quicker decisions can increase your lead-to-deal rates.

What YTS can do for lenders

YTS gives lenders a simple, fast and secure way for potential borrowers to share their bank information. Built on the concept of API-to-API connections, the YTS API provides secure, accurate transaction information. We built our API with bank-level security and the technology to scale as necessary.

Find out how our API can transform your business

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