HSBC UK has created the first live use case of open banking for credit applications using the InterConnect platform from Equifax, the consumer and business insights expert. The solution will facilitate quick affordability assessments by allowing individuals to submit their bank transaction information electronically, in less than five minutes, during an application for credit.
Each submission is presented directly to HSBC UK Underwriting in real-time, providing the bank with a fast and informed view of a customer’s affordability and facilitating faster lending decisions.
















