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
5sec
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
85%
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.
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.
In this paper…
- Educate your customers and partners
- Build a connection infrastructure
- Analyze and enrich data
- Build a credit decisioning framework
- Upgrade your middle office layer
- And much more…
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Excited to learn more?
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