D•One, the open banking services business from The ClearScore Group, has today announced a new partnership with social purpose lender Salad Money. D•One offers financial partners such as Salad Money the ability to use consumers’ transaction data to make a fairer assessment of their eligibility for loans.

D•One will be providing Salad Money with comprehensive and specialized open banking connectivity and transaction categorization intelligence. Salad Money has been at the forefront of open banking credit decisions since its inception in 2018 and this new partnership will allow it to enhance its real-world assessment of affordability further, both in terms of accuracy and speed. Not only does this support responsible lending, but can also offer consumers who have impaired or limited credit histories access to credit options they might otherwise have missed out on.

Tim Kelleway, Director at D•One, said: “We’re helping Salad Money to enhance its lending decision-making through comprehensive open banking connectivity and advanced deterministic categorization. As D•One scales and works with more forward-thinking lenders like Salad Money, we are advancing our mission of enabling lenders to make a truer and fairer assessment of how much credit a consumer can realistically afford to repay. Our highly scalable digital platform and proprietary credit decision-making capability are accelerating consumers’ bank data into mainstream lending and thereby opening up new lines of credit that people would not otherwise have had access to.

Through its two core services of open banking connection and categorization, D•One has successfully identified a range of financial behaviors (such as making deposits to a savings account) offering the ability to categorize the riskiness of borrowers more accurately. D•One provides the most comprehensive suite of Open Banking connectivity in the UK and has an advanced deterministic categorization model developed over 12 years and with over 5 billion transactions.

Tim Rooney, CEO at Salad Money, said: “We’re on a mission to give more people the affordable loan they deserve, and affordability assessments powered by open banking are the way to get there. We’re pleased to partner with D•One for its comprehensive transaction categorization intelligence which helps us accurately and fairly assess potential borrowers. Last year we helped more than thirty thousand people with affordable loans, and this partnership will enable us to help many more in 2024.

D•One open banking connection and categorization services are available to lenders and/or introducer partners to support credit brokering and application processes across the market - delivering consistent functionality and decisioning solutions across all channels.