Since March 2019, banks have had to make their systems accessible to authorised third parties. This gives qualified partners access to banks’ previously locked data doors. How can this be used for an online credit application?

Via these interfaces, qualified partners with customer authorisation can now access the history of important salary accounts and create a 360° financial picture in seconds using the data that can be evaluated there.

The data which can be determined via PSD2 (Payment Services Directive2) can be qualified quickly and thus important key figures can be determined which every credit institution needs in order to be able to decide on a new loan application.

Collenda uses this interface with other partners to enable banks to make quick, automated decisions about a loan application. By supplying this qualified data and administrative rules within COLLENDA Banking, the processing times for credit decisions can be significantly accelerated.

Would you like to find out more about our innovative credit application processes? Feel free to contact us – we look forward to hearing from you!