Inquiring about monthly income and regular expenses often unnecessarily delays the application process for loans and leasing transactions. Applicants often do not have the required data reliably to hand or are reluctant to discuss their financial situation in detail in a personal interview. The financial service provider, in turn, can only evaluate the data on the basis of plausibility. Digital solutions can simplify the credit check process for all parties involved and lead to an increase in the closing rate on the part of the retailer or financial service provider.
The Online Bank Account Check solution provides data for the applicant's credit check through direct and immediate access to the applicant's online account via the system. This simplifies the budget calculation and liquidity analysis. This not only eliminates the need to submit salary statements - the entire process of recording the household accounts is fully automated and shifted to the background, invisible to the merchant.
Advance credit check
Online or at the point of sale, the solution enables an advance credit check to be carried out, taking into account the most important key figures. This allows the wheat to be separated from the chaff at an early stage of the customer relationship.
Support for a wide range of account types
Access to various account types is essential in order to obtain a holistic view of the financial data. The following account types are therefore supported: Current accounts, business accounts, credit card accounts, PayPal, savings and custody accounts.
Structuring the data as a digital household statement
The solution enables the grouping of sales according to income and expenditure as well as the allocation to corresponding categories, such as salary, electricity, insurance and living expenses. In this way, the household invoice can be fully digitized and lump sums can be replaced by specific values.
Comparison of data
If data was entered manually by the customer or merchant, the data extracted via the Online Bank Account Check can be used as a comparison for correct data entry.
Provision of a factsheet
The factsheet generated during the process, which contains all the information in graphical form, is attached to the corresponding financing application. This allows the most important information to be viewed at a glance if a manual check is required.
Account validation
By requesting the account information, the account is implicitly validated, which is required for further processes (installment collection, etc.). This ensures that the debits are made correctly.
The financial service provider receives reliable data for budget accounting and liquidity calculations. This is because the payment transaction data is read directly from the customer's account and made available in aggregated form. This eliminates the use of lump sums in the budget calculation.
Verification of the debit account for upcoming installment payments; in addition, financial service providers can perform a precise calculation of the probability of default based on the specific individual sales data.
The reliable digital account query, which takes just seconds, replaces the time-consuming sending of salary statements. Manual checking of documents by the financial service provider is no longer necessary and the application process is significantly accelerated.
There is no need to ask for sensitive financial data during the sales pitch. All required information is automatically included in the financing application. The data remains hidden from the dealer and is only visible to the financial service provider.
The financial information from the account query can be processed directly in the CMS without manual intervention and thus forms the basis for the automatic credit decision. This saves time and reduces the error rate.
