Banking API for Lenders & Credit Providers
Banking API for Lenders and Credit Providers
Modern lenders need more than credit scores to make informed lending decisions. Fiskil's Banking API provides direct access to bank transaction data, enabling real-time income verification, expense analysis, and comprehensive affordability assessments.
The Challenge
Traditional lending relies on outdated credit scores and manual bank statement collection. This leads to slow approvals, poor customer experience, and limited insight into borrower affordability.
The Solution
Fiskil enables lenders to access real-time bank data with customer consent. Instantly verify income, analyze spending patterns, and assess affordability without manual document collection.
Benefits
Key Benefits
Instant Income Verification
Verify income in real-time through transaction analysis, not pay slips.
Expense Categorization
Automatically categorize expenses to assess true affordability.
Faster Decisions
Reduce approval time from days to minutes with automated data collection.
Reduced Fraud
Bank-verified data eliminates document fraud and manipulation.
Use Cases
Common Use Cases
Personal Loans
Instant affordability assessment for personal loan applications.
Buy Now Pay Later
Real-time credit checks for BNPL providers.
Mortgage Pre-Approval
Comprehensive income and expense analysis for mortgage applications.
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FAQs
Bank transaction data provides highly accurate income verification as it reflects actual deposits. Our algorithms identify salary payments, regular income, and irregular income sources.
Yes, accessing real bank data helps lenders meet responsible lending requirements by providing a complete picture of borrower income and expenses.
The consent flow typically takes under 2 minutes. Customers authenticate with their bank and authorize data sharing through a streamlined, mobile-friendly process.
Lenders can access up to 12 months of transaction history through the CDR framework, providing comprehensive data for income verification and expense analysis in credit decisions.
Yes, our API provides access to liability data including mortgages, personal loans, credit cards, and car loans, helping lenders assess total debt obligations and serviceability.
Real-time bank data reveals comprehensive income and expense patterns that traditional credit scores miss, enabling lenders to approve creditworthy borrowers who might be declined based on credit scores alone.
Yes, Fiskil is fully CDR-compliant and helps lenders meet responsible lending obligations by providing verified income and expense data for accurate affordability assessments.
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