25 February 2021: entitledto is piloting Experian’s Open Banking technology to help prospective social housing tenants to access the financial support they need.
People often need to produce three months of paper statements to allow social landlords to assess their income and expenditure. It has been particularly challenging and time-consuming during the Covid-19 pandemic when some face-to-face services have been closed.
entitledto is using Experian’s Open Banking solution so landlords can allow tenants to fill in the budgeting section of their applications in a frictionless and secure way.
Income and expenditure will be automatically categorised so landlords can easily verify a prospective tenant’s earnings and check which benefits they receive or may be entitled to. They will also be able to assess their monthly expenditure to ensure the accommodation they are applying for is affordable.
Experian and entitledto will be running a webinar to showcase the Open Banking affordability calculator at 11am on Wednesday 10 March 2021. Registration is now open.
Lisa Fretwell, Managing Director of Data Services at Experian UK&I, said: “The need to produce three months of bank statements can slow applications down, especially when so many people have chosen the paperless option with their bank. Open Banking reduces this process to a few clicks in a secure way. We’re working with entitledto so social landlords can better understand people’s financial situations and offer them a more personalised service.”
Dr Phil Agulnik, Product Development Director at entitledto, said: “Our affordability calculator is transforming the way social housing providers manage their allocations. It allows landlords to maximise the income of prospective tenants, ensuring tenancies are sustainable and that vulnerable clients can receive the support they need. Working with Experian we believe Open Banking will give the sometimes time-consuming application process the boost it needs to help landlords cost-effectively manage their lettings process at a time of significant need.”
Webinar registration details:
Experian and entitledto – Showcasing the Open Banking affordability calculator
Wednesday, 10 March 2021, 11:00 AM - 12:00 PM GMT
Joe Green, PR Manager, Corporate & Business, UK&I, Experian
Tel: +44 7812 737768/ Email: email@example.com
Brands2Life for Experian
Experian is the world’s leading global information services company. During life’s big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.
We have 17,800 people operating across 45 countries and every day we’re investing in new technologies, talented people and innovation to help all our clients maximise every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.
entitledto is the leading provider of online benefit calculation software in the UK. We believe that everyone living in the UK should be able to understand his or her legitimate benefit entitlements. We have been operating since 2000, and provide our calculators not just through our web site www.entitledto.co.uk but also to over 190 organisations including local authorities, housing associations, leading charities as well as other websites that choose to provide benefit calculators to support their users understand their entitlements.