Released | 18.10.2024
System Release Notes | Open Banking Enriched Data
Release Overview:
We are introducing a new feature that will allow us to support increased open banking adoption from tenants. While our Open Banking checks continue to lead the industry, with an impressive 80% of tenants providing consent via BOX, a small number of eligible tenants still choose not to consent.
Open Banking is a government-backed initiative that allows tenants to securely share their financial records directly from their online bank account. This process enhances transparency and gives tenants full control over their data while significantly speeding up the referencing process by using accurate, verified financial information. Importantly, it helps reduce fraud by ensuring that the data used is true and unaltered.
We look forward to continuing to streamline your tenant referencing process with these enhancements!
Key Features:
1. Non-Consent Analysis |
We’ve introduced a new feature that analyses reasons for non-consent, helping us identify and address any concerns tenants may have on open banking. This feature aims to further increase the consent rate, and we appreciate your support in communicating the benefits of Open Banking to your tenants.
2. New “How To” Video |
To help tenants understand the Open Banking process and its benefits, we’ve created a new instructional video. Feel free to share this resource with your tenants to make the process even smoother.