Following the decision of our investor to phase out Yolt we will be winding down our services. We have informed our clients of this decision and will continue to fulfil our contractual obligations to meet clients’ expectations during this period. If you have any questions please contact support@yolt.com.

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Lenders

Automate repetitive onboarding processes, reduce fraud risk, and improve loan acceptance rates. All while providing a better customer experience.

Working with Yolt, lenders can instantly create accurate, detailed, up-to-date financial profiles of your mortgage or lending applicant, without any manual processes, and free of unstructured data and human error.

Instantly verify applicants’ financial profiles

Currently, mortgage applicants send a great deal of unstructured data to their prospective lender, including pdfs, scans of bank statements, and many other pieces of information in different formats. This creates work for the applicant and lender. But with Yolt’s Account Information Service (AIS), you can do this immediately and accurately, giving you a near real-time view into applicant finances, and drastically reducing manual work.

Reduce fraud risk

The data you receive from Yolt is direct from the bank, provided with applicant consent through bank-grade authentication such as fingerprint or Face ID. This helps reduce your fraud risk. Shaving several basis points of your fraud costs can lower the cost of doing business, protect your margins, and, if you need, give you the room to be more price competitive.

Provide a better customer onboarding experiences

Nobody likes to spend months gathering, checking, and cross-referencing forms, sending them off, and waiting as they are collated and assessed. And the process is particularly challenging for applicants with limited credit histories.

With open banking, you can offer a drastically faster onboarding experience, and also support a number of applicants who lack the credit history that traditional credit underwriting requires. This will increase customer happiness and retention.

Curious to hear what open banking can mean for your business?

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