Open Banking

Open banking initiatives are developing across the globe, and both established and new lenders are developing digital capabilities such as credit decisioning based on real-time data available through open banking. These features aim to meet the diverse needs of consumers and SMEs by offering faster and easier access to flexible lending and financing options such as Buy Now Pay Later (BNPL), personal loans, mortgages, crowdfunding, leasing, asset finance and project finance.

N.E.O.S. (New Evaluation Open Suite) is CRIF's Open Banking solution that is used to evaluate customers and manage processes using PSD2 data.

The open banking solution enables access to payment accounts in order to accelerate creditworthiness evaluations, both for consumers and businesses, categorizing customer account transactions, profiling the spending behaviours and revealing related development opportunities. 

Fast and Reliable Customer Evaluation

Thanks for CRIF ML and AI technology, financial institutions can leverage their customers' transaction data (current account, credit etc) with accurate categorization for specific profiling, KYC/KYB and indicators for effective risk avoidance plans and loss reduction.

Instant profiling for thin-files or underbanked customers.

Improved customer knowledge and effective cross-selling or upselling campaigns.

Improved acceptance rate and expanded targets segment.

Reduced application time and a better customer experience during the application process.

Key Features

Smooth interface for the acquisition of consents and navigation to the opening banking journey.

Strong customer authentication performed in a few steps.

N.E.O.S. first categorises transactions into categories and then analyses current account data for easier comprehension.

Instant credit scoring evaluation and KPIs developed from spending/saving behaviour patterns through proprietary algorithms and advanced analytics techniques.