Lending - Use Cases

CHALLENGE

Lengthy and inaccurate assessments

Traditional lending processes face limitations in accessing comprehensive and real-time borrower data, resulting in challenges to assess creditworthiness and make informed lending decisions accurately. Moreover, the manual and fragmented nature of borrower information collection and verification leads to inefficiencies and delays in the lending process.

SOLUTION

Better data, better decisions

Gain valuable insights into borrowers' financial profiles by accessing their bank account data, including transaction, income, and other relevant financial data. This real-time data empowers you to make accurate lending decisions efficiently. Streamlining processes and removing manual steps can provide customers with a smoother experience, leading to higher conversion rates.

The customer lending experience and journey must be reimagined as customers expect more from their financial service providers. Working with the team at Tarabut Gateway, FLOOSS has been able to implement a customer-first solution that improves lending processing times to a few seconds and more seamlessly than any other lenders, anytime and anywhere.

Fawaz Ghazal

CEO - Flooss

This partnership marks a significant milestone for Qarar in our mission to empower financial institutions with advanced decision technology. With Tarabut, we will further enhance the use of open banking data to inform and automate credit decisions that will help financial institutions better serve their customers and contribute to the growth of the region’s economy.

Zaid Kamhawi

CEO - Qarar

Read case study

Reduce Risk

Get access to comprehensive borrower data for accurate risk assessment, improving lending decisions and reducing default risks.

Accelerate Approvals

Eliminate manual documentation by directly accessing bank account data, simplifying the application process and speeding up loan approvals.

Personalise Offers

Customise loan terms based on real-time borrower data, ensuring personalised and competitive loan offers so no money is left on the table.

Connect

Real-time access to an array of financial data via Open Banking APIs.

Learn more

Income Verification

Verify your users’ income with secure, real-time data

Learn more

Events and Resources

Open Banking , Bahrain

Bahrain Leads Global Innovation in Open Banking with The BENEFIT Company, Tarabut and FLOOSS

A first-of-its-kind partnership introduces centralized open banking authentication in Bahrain, creating a seamless, secure experience for consumers ...

Open Banking

Navigating Open Banking Compliance: Overcoming Challenges and Unlocking Opportunities

The financial landscape is undergoing a profound transformation with the advent of Open Banking, which is growing at a staggering rate of 130% per ...

Open Banking

Speeding Up Loan Approvals with Open Banking: Key Insights for Lenders

In an age where the speed of service can make or break a financial institution, the traditional loan approval process often feels like a relic of the ...

See all

Talk to us

We're here to help you make the most of open banking.

Get in touch

Start building

Create an account to explore our APIs

Read our docs

Make smarter decisions with comprehensive insights