Saving time and Inconvenience by implementing open banking for debt management

UK debt management company Gregory Pennington has implemented an open banking solution, provided by Equifax, into its annual customer review process enabling the company to save time and inconvencience of their customers.

Instead of having an annual call, the regulatory-required financial assessment can now be done by simply providing consent for access to transactional data in order to create a financial statement. Not just does this save time and inconvenience for customers, the company itself also saves a very large amount of time.

Sales Director at Equifax - Zowie Lees-Howell said: “This is the first UK use case of Open Banking technology being harnessed for annual reviews by debt management companies. It’s a great example of how Open Banking can be mutually beneficial for the service provider, Gregory Pennington, and the consumer.”

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Source: Gregory Pennington embeds Open Banking data to automate annual customer review process - / Gregory Pennington embeds Open Banking solution to debt management - 

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Author: Kevin Houtop

Categories: Fintech, PSD2Number of views: 7936

Tags: fintech innovation open banking psd2 banks Finserv

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