Lending & Credit Enhancement

Access bank or brokerage data to better inform lending decisions.

Try our APIs

Graphic depicting Lending Credit Enhancement loan request submission

Use alternative financial data to improve credit decisioning and more

People increasingly want to apply for credit cards and loans digitally, via fintech apps. To prevent fraud and make sound lending decisions, fintechs need to verify the user’s identity and check their financial statements before opening a new line of credit for them.

With Akoya’s APIs for lending and credit decisions, individuals can share their data with fintech apps using their financial institution’s existing online portal — no screen scraping required.

The fintech app can use their data, encompassing up to two years of transaction history, for decisioning purposes, including:

Account verification
Asset verification
Credit scoring and modeling
Deposit verification
Employment verification
Fraud prevention
Lending
Underwriting

Sensitive information like tax ID and date of birth is not shared.

How it works

Graphic depicting find your credit score fintech

Graphic depicting selection of financial institutions or banks

Akoya redirects consumer to their bank to authenticate

Graphic depicting the process of identity verification and bank authorization step by step

Akoya redirects consumer to their bank to authenticate

Graphic depicting sign in for bank or financial institution

Akoya redirects consumer back to fintech app

Graphic depicting success page on fintech app

Akoya establishes data flow

Graphic depicting the fintech operating as intended with the example of credit score

Akoya establishes data flow

Testimonials

“After one seamless integration onto Akoya, we are now able to authorize direct connections with data aggregators and fintechs that will use the Akoya Data Access Network. The data recipients that the customer authorizes to connect to their U.S. Bank account through Akoya will receive authorized and permissioned access to U.S. Bank customer data, all while giving consumers the confidence that their data is safe and secure.”

Gareth Gaston EVP & Chief Digital Officer, Enterprise Platforms & Capabilities, U.S. Bank

“We recognize how important it is for our customers to be able to use the financial applications of their choice in a safe and secure manner. Akoya’s capabilities help us meet the data sharing needs of our customers as well as data aggregators, data providers and other third parties, in line with evolving industry standards. This is good for our business, good for our customers and good for the industry.”

Bill Demchak Chairman, President, and CEO, PNC

“We chose Akoya’s network to enable our customers to share their financial data. Akoya’s pass-through solution is efficient and is designed with data privacy and data minimization in mind. Akoya’s end-to-end management of the contracting process, streamlining of the onboarding and risk management processes, and operational efficiencies significantly accelerate our implementation timelines.”

Figen Ceceli SVP, Head of Data Aggregation Product, Fidelity Investments