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ClearScore taps Plend to offer open banking-powered loans

The two fintechs are partnering to help more consumers get access to loans that might typically be turned down because of their credit scores

Plend ClearScore

James Pursaill and Justin Basini/Plend and ClearScore

ClearScore is partnering with alternative lender Plend to launch open banking-powered loans that look beyond credit scores to assess risk and affordability.

As part of the partnership, Plend will also use ClearScore’s open banking services arm ‘D•One’ for open banking connectivity and categorisation information.

This will allow Plend to look at applicant transaction data to assess a customer’s affordability for loans, supporting responsible lending and helping consumers who might typically be denied loans due to limited credit histories.

“We welcome Plend on board as a forward-thinking and data-driven alternative lender that is the perfect fit for our users,” ClearScore co-founder and CEO Justin Basini said.

“We are seeing more consumers unlocking the power of open banking and lenders increasingly recognise the need to make a truer and fairer assessment of how much credit a consumer can realistically afford to repay. 

Over the last nine years, ClearScore has grown to more than 14 million users in the UK, and ClearScore Group now consists of both the online marketplace and its open banking services provider D•One.

Through the technology provider, lenders like Plend can factor transaction data into their lending decisions, reaching a larger pool of consumers and helping provide more people with access to credit.

“We’re on a mission to give more people the affordable loan they deserve, and credit assessments powered by open banking are the way to make that a reality,” Plend co-founder and chief technology officer James Pursaill said.

“We’re pleased to partner with the ClearScore marketplace for extensive reach, and with D•One for its comprehensive transaction categorisation intelligence which helps us accurately and fairly assess potential borrowers.”

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Justin Basini

Group CEO and Co-founder

ClearScore
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James Pursaill

Co-founder and Chief Technical Officer

Plend

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