Wealthreader API · Use case

Use case: bank data for credit scoring

What a credit scoring model sees when its bank data goes beyond PSD2: every product, direct debit receipts and official documents, in a single API.

Duration 2:25
Video language English

Video version

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About this video

If you are choosing a bank data provider for your credit scoring, you already know the options and what they will show you. This video goes through what you only see with Wealthreader. Bank data aggregation is all the company does: a dedicated team, two million euros invested in technology and a profitable business.

Coverage comes in two layers: PSD2 across the whole of Europe and, on top of it, direct connection to more than 250 banks in 61 countries. That matters for scoring because with PSD2 you mostly see current accounts, while with direct connection you see every product: credit cards with their holder and transactions, loans with other lenders, and every direct debit with its PDF receipt, without asking for a second factor. That PDF holds what used to be invisible: the cadastral reference on the property tax receipt confirms whether there is a home in the applicant's name, and the number plate appears on the car insurance receipt.

Wealthreader connects today to 100% of Spanish banks, including Openbank and ABANCA, and its SLA commits it to resolving a critical incident within eight hours, with a penalty if it does not. It handles more than two million bank connections every month, is a payment institution registered with the Bank of Spain and holds ISO 27001 certification from AENOR.

With the same provider you sharpen your scoring with official documents through GovReader, such as the employment history report or the latest income tax return, and you collect with FastTrackPay, an account-to-account payment the customer authorises with biometrics. It is aimed at risk, product and technology teams at lenders and fintechs.

Transcript

If you're choosing a bank data provider for your credit scoring, you already know the options, and you already know what they'll show you. This is what you'll only see with Wealthreader.

First, focus. For us, bank data aggregation isn't one more business line: it's all we do. A dedicated team, two million euros invested in technology, and a profitable company.

Second, coverage. We connect through PSD2 across the whole of Europe. And on top of that we add another layer: more than 250 banks in 61 countries through direct connection, beyond PSD2.

Why does that matter for scoring? Because with PSD2 you mostly see current accounts. With direct connection you see every product: credit cards, with their holder and their transactions. Loans with other lenders. And every direct debit, with its PDF receipt, without asking for a second factor.

That PDF holds what used to be invisible. The cadastral reference on the property tax receipt confirms whether there is a home in their name. The number plate appears on the car insurance receipt. Scoring a person on a current account is not the same as scoring them on their complete financial life. That's why our motto is See Everything.

We are the only provider that today connects to 100% of Spanish banks, including Openbank and ABANCA, which the market gave up on years ago. And if another bank fails tomorrow, our SLA commits us to resolving a critical incident within eight hours. If we don't, we pay a penalty.

And we are not small. More than two million bank connections every month. A payment institution registered with the Bank of Spain. ISO 27001, certified by AENOR. Approved by banks, and in production with clients such as Fintonic.

With the same provider you sharpen your scoring with official documents: the employment history report, the latest income tax return, and up to fourteen types of documents from the Spanish public administration, with GovReader. It costs cents, and it saves you the fixed cost of a second provider.

And when it's time to collect, FastTrackPay: an account-to-account payment with all the details already filled in, which the customer authorises with biometrics, and which arrives instantly. Complete bank data, official documents and collections, in a single API. Wealthreader. See Everything.