Mastering Open Banking: a strategic guide for banking executives

Open banking

White Papers

This white paper explores our 6-year journey with Open Banking at Younited, offering insights and strategies for lenders to enhance loan processes or develop instant credit frameworks.

Download the white paper

This white paper outlines Younited’s six-year journey with Open Banking, highlighting its evolution from a nascent technology to a crucial element of modern lending. Since 2011, we have shifted from traditional processes to embracing Open Banking by 2018, significantly enhancing customer experience. As of 2024, instant credit constitutes 60% of our loan origination in Europe, projected to rise to 80%.

Why this is a game-changer?

Better value proposition

Smoother user experience

More inclusivity

Reduced fraud

Open banking at Younited by the numbers

5 sec

that’s all it takes for Younited to process data collection, credit scoring, and custom pricing.

Open banking isn’t just a trend, it’s becoming the standard

In some contexts, we’ve achieved a 85% adoption rate for open banking, highlighting the good fit between customers’ expectations and our user experience.

In 2023, we processed nearly 2 million bank connections. Our open-banking operations have grown 35-fold over the last five years, showing the significant traction this technology has gained.

Evolution of open banking connections from 2018 to 2023

0.05M

2018

0.70M

2021

1.85M

2023

Source: Younited

« Starting with a standard digital granting process, by 2018 we had embraced the early potential of Open Banking. This shift wasn't just a change in technology; it was a reimagining of customer experience, streamlining granting processes and enabling real-time solvency analysis. »

Geoffroy Guigou

Co-founder and COO at Younited