20 July 2018
Visit www.gemalto.com

Consents.online to provide architecture for HSBC Open Banking platform

17 May 2018  |  4068 views  |  0 Source: Consents Online

consents.online, a registered Account Information Service Provider (AISP) and subsidiary of leading bank data analytics platform, AccountScore, has entered into an agreement with HSBC UK to provide it with access to the transaction data of consumers from other organisations under the UK’s Open Banking programme.

In addition, HSBC UK will utilise consents.online’s leading consent management architecture whereby the consumers in question can view and control where their data is being accessed and for what purposes.

The agreement will allow HSBC UK to launch consumer products utilising the data now available under the UK’s recently launched Open Banking initiative. The initiative gives consumers the ability to share their financial data, traditionally held by banks and building societies, with authorised third parties, in order to take advantage of new products and services aimed at boosting competition in the retail financial services market. consents.online allows consumers and small businesses to view who is accessing their information under the Open Banking initiative and control whether organisations can access their financial data on an ongoing basis by giving them the opportunity to revoke access at any time. This is all done through the consents.online mobile app and website, a central hub where users can manage and view all the data consents they have granted in one place.

consents.online’s data analytics platform, AccountScore, specialises in transaction data analytics for consumer and business lending, developing products to help clients better utilise data within lending decisions and to make the application process smoother for customers. Products include: Verify, which removes the need for manual payslips when completing financial applications; Enrich, which categorises transaction data to provide more detailed insight on customers; and Events, an alerts system which notifies financial service providers to events in a customer’s life which could alter their financial requirements.

Emma Steeley, Commercial Director at Consents Online Ltd, said: “Our B2B clients of different sizes, sectors and countries have demonstrated the power of transaction data to revolutionise customer insights. We are delighted to be helping HSBC UK with this journey.”

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Visit https://secure.vasco.comVisit iliad-solutions.com/Visit http://go.jumio.com/finextraAd

Who is commenting?

Top topics

Most viewed Most shared
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
12967 views comments | 6 tweets | 7 linkedin
Hong Kong plans September go-live for blockchain-based trade financeHong Kong plans September go-live for bloc...
10441 views comments | 9 tweets | 17 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
9782 views 19 comments | 15 tweets | 30 linkedin
IBM to test dollar-pegged 'stablecoin'IBM to test dollar-pegged 'stablecoin'
6827 views comments | 4 tweets | 14 linkedin
Bringing about new systems and faster payments globallyBringing about new systems and faster paym...
6645 views comments | 2 tweets | 7 linkedin

Featured job

Find your next job