LendInvest selects Credit Kudos for better lending decisions with Open Banking

By Megha Bhattacharya

LendInvest and Credit Kudos have teamed up to offer brokers and customers a secure device and to enable the former to make informed leading decisions with Open banking insights. The company has selected Credit Kudos to speed up its time-to-decision with a smoother customer journey, and to enhance affordability and credit risk assessments using Open Banking-enabled risk insights.

Arman Tahmassebi, COO of LendInvest, commented, “Getting rid of the manual documentation process has allowed us to offer a far faster and more convenient service. Although we have been using Open Banking for two years, this new partnership with a like-minded fintech has allowed us to take it to the next level and really reap the benefits of the technology.

“The greater insights are empowering us to make better informed, faster lending decisions to more people. We have been particularly impressed with the seamless integration of Credit Kudos into our system – the new dashboard is highly intuitive and it’s already helping us serve more customers.”

According to Credit Kudos, its technologies enable a smoother experience for both the customer and lender; removing the need to manually upload documents, and allowing lenders to automate more of the underwriting assessment process. Credit Kudos’ technology is fully integrated within LendInvest’s application process for buy-to-let mortgages. It will be rolled out and integrated within additional services in the near future.

Credit Kudos, founder and CEO, Freddy Kelly, added: “Like LendInvest, we are committed to making credit applications smoother and fairer for both the lender and applicant, so this partnership is a natural fit.

“Open Banking technology is transformative for lenders who want to make smarter and faster decisions to better serve their customers. With our technology in place, lenders can automate the underwriting process and get a far more accurate picture of an applicant’s true financial position. It not only helps them lend responsibly but also opens up their service to underserved customers who may not have traditional income patterns, such as sole traders.”