In our ongoing series, our FinTech of the Week is AccountScore, an analytics business which provides actionable insights and analytics on bank transaction data for clients – typically banks and financial services companies who want to learn more about their customers, prospects and applicants.
Ahmed Amin, Sales Director, AccountScore, discusses the ever evolving Open Banking ecosystem, their joint solution with Equifax, the company’s own rapid growth over the past 18 months as well as advice for emerging FinTech companies.
“Traditionally you’ve always had a credit score that tells you what’s the likelihood [consumers] will repay back credit, but that’s just based on other credit you’ve had in the past,” says Amin. “Open banking really allows you then to get a much different picture of that customer based on, essentially, their bank account. How they’re spending their money and what they look like from a financial perspective. It just really fills in the rest of the picture on that consumer.”
Watch the video now:
Watch AccountScore on the FinTech Stories Stage at FTT19 now: