LDNfinance to use Open Banking platform

LDNfinance is adopting a new Open Banking platform to speed up loan applications.

The financial adviser has opted for LendingMetrics’ OpenBankVision, which is said to do away with the need for ‘historic’ paper proofs, offer real-time access to applicants’ bank statements and transaction details, as well as automatic analysis of accounts for up to 90 days.

The platform filters data using categorisation tools to automatically identify salary payments, ongoing commitments and any unusual activity, enabling affordability and creditworthiness assessments to be made in seconds.

“We’ve spent two years developing and testing OpenBankVision and know that LDNfinance will benefit massively from it,” said David Wylie, director of LendingMetrics (pictured above).

“Also, unlike other providers, we will not be charging set-up or monthly fees.”

Anthony Rose, director at LDNfinance, added: “Implementing this customer-centric mindset will help us free the adviser’s time to focus on providing value back to the customer.”

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