The future is access to all data
Much like Tink, the trustee for the UK’s Open Banking Implementation Entity (OBIE) has big visions for the future of data-driven banking. He says it’s only a matter of time until the full scope of customer data is available for fintechs to use to build innovative new products.
“Everyone agrees with the fundamental principles – that data belongs to the consumer and not to the organisation,” Imran Gulamhuseinwala told us at the Money20/20 conference in June.
“Then I think we’re going to start looking very much at other products – mortgages, savings accounts,” he says. “Then other products outside of banking – insurance and so on. And if the UK is anything to go by, we’re already having discussions about water, energy, telco, broadband, utilities – the whole gamut.”
More in Open banking
How banks can offer tailored support to different consumer groups
Different consumers need differing levels of support. Learn how banks can support UK consumers through the cost-of-living crisis by using tailored financial coaching, data-driven tools and money management solutions.
Under the hood of Early Redirect – turbocharging income verification
How does Income Check make it possible for lenders to verify income in seconds? We went behind the scenes of the Tink tech team to find out how Early Redirect is powering the open banking lending engine. Marcus Elwin, Associate Product Manager, has the details.
The lenders’ guide to getting started with open banking
Risk decisioning and creditworthiness assessment technology are the tools lenders need to take loan origination into the future. Learn how Tink can help with this guide to optimising affordability assessment.
Get started with Tink
Contact our team to learn more about what we can help you build – or create an account to get started right away.
