YTS launches Cashflow Analyser tool

Ellie Duncan
20 May 2021

Yolt Technology Services (YTS) has launched an online tool that uses Open Banking to provide a new way to automate credit checks. 

Cashflow Analyser enables lenders and leasing companies to access applicants’ aggregated financial data immediately. 

By removing the need for downloading and sending historical bank statements, YTS said that lenders are able to make quicker and more informed lending decisions, while customers, whether it’s an SME or retail client, will receive a faster response to their application. 

YTS said that its new offering may be “particularly compelling” for those that have experienced fluctuating sales in the wake of Covid-19 and lenders that need to frequently assess the creditworthiness of applicants with little or no credit history. 

According to YTS, Cashflow Analyser allows access to real-time and historic analysis of up to 18 months’ worth of customer transaction data, while no integration period or technical input is required.  

“Lenders can access the off the shelf, white labelled solution quickly and smoothly through the YTS Cashflow Analyser portal,” YTS said. 

Earlier this year, YTS expanded its Open Banking offering to support UK mortgage lenders.