Working with our 3rd Party provider, Mogo Bank UK. Our ability to access open banking records has allowed us to generate a Credit Report, detailing the summary of an applicant’s financial transactions over a defined period of time, generally this has been 3 months, however the facility has the ability to report the financial details of up to 6 months.
The Mogo Credit Report collects and collates all relevant financial transactions of a customers account over the defined period and produces a breakdown report of all Income and Expenditure which can then be used to assess a customer’s affordability.
The report produced breaks down the elements of income and expenditure into the real-world retail sectors which are used to drive frequently used budget planners. By accessing the broken-down data, advisors can provide more detailed recommendations on a customer’s liabilities and access to finance.