Open Banking (Financial Passport and Automated Income Verification)

by NextGen · Open banking and CDR · Sydney, NSW, Australia

Open banking data tools embedded in ApplyOnline that enable secure sharing of consumer financial data for faster income verification and loan pre-approvals.

What Open Banking (Financial Passport and Automated Income Verification) does

• Automated income verification using CDR/open banking data
• Financial Passport secure client data sharing to brokers
• AI-generated insights from open banking transaction data
• Pre-filled loan applications from open banking data
• Integration with aggregator platforms for data transfer

What Open Banking (Financial Passport and Automated Income Verification) is used for

• Lenders automating income assessment without manual bank statements
• Brokers collecting verified client financial data in under 8 minutes
• Branch staff accessing open banking in first-party lending interviews
• Reducing time-to-yes on refinance applications

Who Open Banking (Financial Passport and Automated Income Verification) is for

• Banks
• Mutual lenders
• Non-bank lenders
• Mortgage brokers
• Aggregators

About NextGen

End-to-end loan origination platform (ApplyOnline) for digital lodgement, assessment, processing and open banking-powered income verification, serving lenders, aggregators and brokers.

NextGen in the vendor registry: its products, features and similar vendors.

Also by NextGen

• ApplyOnline: An end-to-end lending solution supporting loan application, digital lodgement, assessment, processing and settlement across all lending…
• AppCentre: Enterprise-grade lender-side loan origination and workflow management system providing a single back-end platform for processing…
• NextGenID
• Digital lodgement: Electronic loan application and document submission to lenders
• Assessment and processing: Lender-side loan evaluation and workflow
• Open Banking: Consumer data integration for loan assessment

More in this category: Open banking and CDR software.

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