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30 June 2020
Just Digital Marketplace and AccountScore have agreed an exclusive partnership to leverage Open Banking in the enforcement sector.
Open Banking data and services will be used by Just, the market integrator for enforcement services, to validate affordability for repayment arrangements; allowing them to build affordable, sustainable repayment solutions based on accurate assessment of customer circumstances.
AccountScore uses intelligent algorithms to categorise customer spending and income, which are typically used to help banks and lenders determine credit limits for their customers. With a 93% completion rate, AccountScore connects to all major ‘High Street’ banks and has processed over 384 million data feeds since inception.
Jamie Waller, Just Chairman, remarked, “We’re working hard to change our sector and build an equitable approach to enforcement, not just in response to COVID-19, but because it’s the right thing to do. Understanding affordability and building repayments based on reality is a cornerstone of our manifesto for change and this exclusive deal with AccountScore will really help us achieve our objectives”.
Emma Steeley, CEO at AccountScore said “We’re delighted to be working with Just to bring AccountScore capability to the enforcement industry, a sector where we are seeing responsible firms embrace Open Banking to improve customer processes. Using real-time information from a consumer’s bank account is more important than ever as the sector continues to operate in the current economic climate. The team at Just are determined to make real improvements for customer outcomes and we’re really excited about the change we can drive together”.