Yobota chooses Credit Kudos for credit profiling

Cloud-based banking platform Yobota has chosen Credit Kudos to be its credit referencing bureau.

Credit Kudos uses real-time data for risk profiling and will give Yobota better access to up-to-date information through APIs.

This new partnership will allow the clients on the Yobota platform to benefit from up-to-date information, improved affordability and better credit risk modelling. This will include real time income and expenditure data, as well as an indication of someone’s future liquidity.

Yobota chief executive officer and founder Ammar Akhtar said he was keen to partner with Credit Kudos as the firm shares his goal in modernisation of financial services through technology.

“As a rapidly growing fintech company, our faster and flexible cloud-based operating platform allows our clients to create and run innovative financial products faster than other core banking providers,” said Akhtar.

“Credit Kudos’ solution allows our clients to establish a competitive advantage by offering a superior creditworthiness check, using open banking data to help them make better, faster and fairer decisions.”

This advantage will also be extended to customers of Yobota’s clients, who are searching for new credit. These customers will now be able to source new, bespoke product offers by securely sharing data from their bank account, increasing their chances of approval and potentially helping them to get a better deal.

With this partnership making it easier for Yobota clients to incorporate Open Banking into their applications, Credit Kudos CEO and co-founder Freddy Kelly said this could bring real change to the sector and end-customers alike:

“Forward-thinking companies such as Yobota are revolutionising banking and the banking experience for customers.

“By working together, we can support Yobota’s clients in becoming more agile and innovative in a new Open Banking economy.”

This partnership signals a strong start to the year for Credit Kudos which was selected by ClearScore in late 2019 to develop its Open Banking powered eligibility solution for mortgages, credit cards and loans.

Yobota’s existing clients include Chetwood Financial, the recently-licensed challenger bank backed by UK hedge fund Elliot Management.