With Bud's Assess solution, Moneyboat is empowered with an accurate, data-driven view into their customers' financial situations. By leveraging real-time transactional data, we're able to provide a clear and concise breakdown of a customer's spending and accelerate application processing times.
"Bud has aligned with and supported Moneyboat's mission to provide fair, flexible and competitive access to short-term finance. By implementing Bud's open banking service, we have been able to stay true to our promise of being a customer-centred brand that supports a streamlined approach to lending."
Moneyboat aims to solve one of the most difficult problems for the British public – waiting until payday. The lender specialises in direct, short-term loans and has been recognised for its focus on responsible lending.
When the Covid-19 pandemic struck, Moneyboat anticipated increasing default rates from customers. It also realised that credit data alone would fail to identify income shocks and furloughed employees, and was battling with long application processing times due to the manual review of PDF bank statements.
Moneyboat turned to open banking and Bud to help solve these problems.
Moneyboat selected Bud to help tackle the issues they were experiencing with their credit assessment processes by providing access to a real-time, accurate view of customers' financial profiles.
Our Assess solution helps Moneyboat's advisors get a clear picture of their customers' financial position with more accurate data on their income, expenses and any debt they may have.
Our credit assessment solution uses real-time transactional data and provides a clear and concise breakdown of customers' spending.
The result? Moneyboat could make better lending decisions and process loans more quickly:
Want to know how Bud can help you accelerate applications and data-driven decisioning?
Short-term lending
To accelerate data-driven decisioning and reduce application processing times
%201.webp)
