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UK FinTech Yobota selects Credit Kudos for credit risk checking services

Freddy Kelly, CEO of Credit Kudos

UK FinTech Credit Kudos announced that it has been selected by a cloud-based banking platform provider, Yobota as its open banking credit bureau for allowing the platform’s customers to enhance affordability and credit risk modelling. The companies state that the addition of the FinTech to Yobota’s platform is expected to provide the latter’s clients with new decisioning models and product opportunities.

Ammar Akhtar, CEO and founder, Yobota, commented, “As a rapidly growing fintech company, our faster and flexible cloud-based operating platform allows our clients to create and run innovative financial products faster than other core banking providers. We are therefore delighted to be partnering with Credit Kudos, a leading fintech provider which shares our goal to modernise the financial sector through transformational technology. Credit Kudos’ solution allows our clients to establish a competitive advantage by offering a superior creditworthiness check – using open banking data to help them make better, faster and fairer decisions.”

Credit Kudos states that it will facilitate access to additional information than was previously available to them through traditional credit bureaus for the platform’s clients. This includes real-time income and expenditure, as well as an indication of someone’s future liquidity. The information inflow aims to increase the chances for clients to get approved for credit.

Freddy Kelly, CEO and co-founder of Credit Kudos, commented, “Forward-thinking companies such as Yobota are revolutionising banking and the banking experience for customers. By working together, we can support Yobota’s clients in becoming more agile and innovative in a new open banking economy. This partnership will make it easier for Yobota’s clients to incorporate open banking into their application, affordability and credit models and make faster, more informed decisions about lending to help them increase acceptances and reduce defaults among customers.”

London-based FinTech Yobota provides a cloud-based operating platform for financial services. It aims to allow its clients to create and run financial products faster than other core banking providers.

Recently, UK FinTech ClearScore announced the launch of its open banking powered-eligibility solution in partnership with Credit Kudos

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