Accurately assess repayment capability with our AI-powered affordability analysis.
Find out how your financial institution can benefit from Active Affordability by filling out the form below.
Conventional affordability assessments measure affordability purely on repayment history, overlooking how borrowers actually manage in a day-to-day environment and when under financial strain. The Finexos Active Affordability Assessment moves beyond repayment tracking, using transactional and real-time data to determine whether borrowers can maintain their quality of life while repaying loans. This ensures lenders make truly responsible, long-term lending decisions, and helps borrowers to manage their debts.
Finexos’ Active Affordability Assessment aligns with the UK Consumer Duty Act, which puts the data lenders use to assess affordability under close scrutiny to ensure that decisions are made in the borrower’s best interests.
Finexos technology and sustainability-focused methodology provides a more robust assessment of a borrower’s ability to meet repayments, and to do so comfortably. By utilising historical CRA data, income and open banking data, with no need to ingest unwanted-boas inducing PII, a more accurate affordability assessment based entirely on individuals’ behaviour and their unique circumstances is revealed. Lenders will see a Maximum Affordability Calculation from which to base their lending level decision.
Each borrower and their circumstances is unique and the FCA requires that every customer is treated as an individual. Finexos technology brings a holistic approach to regulatory compliance. Sustainability-focused affordability assessments are based on each applicant’s individual circumstances and behaviour to deliver more granular and accurate results. And by identifying loans that could become unaffordable before delinquencies occur, credit providers can intervene proactively to support better outcomes for their customers.
More accurate affordability assessments mean loans are granted more responsibly and sustainably. Not only is affordability determined, but also maximum affordability. An affordability prediction rate accuracy of 99.34% has been demonstrated in a Finexos proprietary study, and ongoing real-time vulnerability monitoring allows for early intervention in cases of distress or a change in circumstance.
Up to
25%
Reduction in Default Rate
More inclusive lending, based on our financial capability metrics, unlocks entirely new markets whilst reducing overall risk exposure through the use of our advanced AI and behavioural analytics. Finexos enables lenders and credit decision engines to safely include more borrowers, even those with thin or no credit files and without the need for borrower PII or credit scores.
Featured case study
By analysing the defunct loan book of US-based Lending Club, provided to us through the FCA Digital Sandbox, Finexos was able to obtain some significant results using our ML-driven credit risk algorithm.
If you can’t find what you’re looking for, feel free to reach out to our customer support team for further assistance.
I’m interested in an enterprise partnership or in reselling Finexos’ products. How do I contact you?
Please book a meeting or reach out via email to enquire@finexos.io and one of our team will be in touch
How does Finexos’ approach differ from our competitors?
Conventional credit assessments focus on historical data and fixed metrics, overlooking how borrowers actually manage financial strain. Yet financial health is fluid. The Finexos Active Affordability Assessment is a live, learning system that adapts to changes in income, expenditure, and behaviour. It moves beyond repayment tracking, using transactional and real-time data to determine whether borrowers can maintain their quality of life while repaying loans. This ensures lenders make truly responsible, long-term lending decisions.
What is the difference between affordability and creditworthiness?
Affordability is a measure of the ability of a borrower to meet the repayment terms of a credit product based on their cash position on an ongoing basis. Creditworthiness is a more narrow view of the suitability of the product at a single point in time, taking into account isolated factors that affect repayment ability
Does Finexos provide financial transaction data?
No, Finexos is a data intelligence provider that analyses transactional data provided by our customers (providers of credit). Finexos is able to integrate with all Open Banking providers and accepts data in heterogeneous formats.
Does Finexos share personal borrower related data?
Finexos does not hold or store any PII data belonging to credit applicants. We have completely anonymised the process to negate the effects of unwanted bias.
Has Finexos won any awards?
Yes, we have won Innovate Finance’s Fairer Finance Hackathon, were a finalist in Open Finance’s Global Appathon, and were voted Most Innovative Credit Repair Solution Provider UK by Wealth and Finance International.