UNO partners with Fiskil to power continuous home loan monitoring
UNO Home Loans uses Fiskil’s Open Banking infrastructure to connect customer banking data to LoanScore, helping Australians understand how competitive their home loan is — and monitor it over time.
Industry
Lending
Built with
Fiskil Banking APITime to a working product
Under two weeks
In UNO’s own environment
Watch: implementation and supportYouTube · 0:46 (opens in a new tab)Challenge
UNO Home Loans wanted to evolve LoanScore from a point-in-time home loan comparison tool into an ongoing monitoring experience. To do that, UNO needed accurate banking data that could keep LoanScore connected to a customer’s financial position over time.
The team needed an Open Banking partner that could provide a lightweight, largely self-serve integration, give UNO access to only the data required to power its algorithms, and support a commercial model capable of scaling LoanScore to potentially millions of Australian borrowers.
Solution
With Fiskil’s Banking API, UNO can securely connect customers’ banking accounts to LoanScore and access the financial data required to provide more accurate scoring and ongoing loan monitoring.
Fiskil’s developer-first approach enabled UNO’s engineering team to begin building quickly, while progressing its CDR requirements in parallel. UNO moved from signing up to Fiskil to having a working product in its own environment in under two weeks, with direct support available when required.
The result is an Open Banking experience designed to start small, iterate quickly and scale with UNO’s ambition to make LoanScore available to millions of Australian home loan customers.
Turning LoanScore into an always-on experience
UNO Home Loans built LoanScore to answer a simple question many borrowers struggle with: is my home loan actually any good?
The original LoanScore experience allowed customers to compare their existing loan against relevant products in the market using a small amount of self-reported information. But UNO saw an opportunity to take the product further.
Rather than providing a point-in-time comparison, UNO wanted LoanScore to stay connected to a customer’s financial data and continuously monitor their loan as their circumstances and the market changed.
“The relaunch of LoanScore was about getting it live not just as a one-off tool, but as a tool that deeply integrated with the loans that you had… and could actually provide that ongoing monitoring that honestly was only really possible using Open Banking.”
— Vincent Turner, CEO, UNO Home Loans
Fiskil powers the connected LoanScore experience
UNO partnered with Fiskil to bring Open Banking into LoanScore.
Customers can start by generating a LoanScore using information they already know about their home loan. They can then securely connect their banking accounts through Fiskil, giving UNO access to the data required to calculate a more accurate score and continue monitoring their loan over time.
“Where it gets really interesting is not the self-reported data, it’s when you add Open Banking.”
For UNO, the goal was a lightweight integration.
“We specifically want the parts that would power the LoanScore algorithm, which is a subset of the data. We don’t need all the transactions.”
Fiskil gives UNO the infrastructure to access the banking data it needs without introducing unnecessary complexity into either the customer or engineering experience.
Built for engineering teams to move quickly
UNO evaluated a number of Open Banking providers before selecting Fiskil. A self-service integration, strong developer experience and a commercial model that could scale with LoanScore were key requirements.
“Lightweight integration that was largely self-serve was really critical for us and then paired with a commercial model that meant that we could give LoanScore away to a large number of people without it blowing up the economic model.”
UNO’s engineering team was able to sign up to Fiskil, add developers to the platform and begin building while its CDR requirements progressed in parallel.
When support was needed, Fiskil worked directly with UNO through a shared Slack channel and calls, without turning the implementation into a traditional vendor-led project.
“Fiskil worked the same way that we like to work, which is: we’re here for you and you can hit us up if you want, but you don’t need to do everything with us.”
UNO went from signing up to having a working product in its own environment in under two weeks.
When the team needed specific data to properly test LoanScore in the sandbox, Fiskil added it within days, giving UNO the ability to test the customer experience before moving into a live environment.
Starting small, with infrastructure built to scale
UNO initially introduced its connected LoanScore experience to a limited group of customers, allowing the team to observe how people used the product and refine the experience before expanding the rollout.
Fiskil supported that approach commercially, giving UNO the flexibility to validate the product with a small cohort while knowing the infrastructure could support its longer-term ambitions.
And those ambitions are significant.
“We have aspirations on everyone in Australia who has a home loan having a LoanScore. And that’s literally millions of people.”
By using Fiskil as the Open Banking layer behind LoanScore, UNO can stay focused on its customer experience and home loan intelligence while Fiskil provides the infrastructure required to securely connect banking data at scale.
“Fiskil, honestly, was the only provider who we found who ticked all of our boxes. For me, the proof’s in the pudding. We got live with a working product in under a couple of weeks inside of our own environment.”
Video transcript · Why UNO chose Fiskil
Because we’re not doing what a lot of other people are trying to do with Open Banking, which is to get all of your data. We specifically wanted just the parts that would power the LoanScore algorithm, which is a subset of the data. We don’t need all the transactions. We don’t need every single—to get what we need.
So lightweight integration that was largely self-serve was really critical for us. And then paired with a commercial model that meant that we could give LoanScore away to a large number of people without it blowing up the economic model.
And Fiskil honestly was the only provider who we found who ticked all of those boxes.
