Flinks announces a major breakthrough in the ability of fintechs and financial institutions to maximize the usability of financial data
MONTREAL, Sept. 29, 2021 /PRNewswire/ – Flinks, a leading financial data analytics and connectivity platform, today unveils the biggest update of its top-shelf data enrichment engine since its initial launch just over two years ago. With this new release, Flinks Enrichment can now be deployed on top of data from other open banking providers as well as financial institutions’ very own data assets.
“This is a major breakthrough in fintech and financial institutions’ ability to drive positive outcomes using the data at their disposal,” explains Flinks’ CEO Yves-Gabriel Leboeuf. “If data connectivity is the oil wells and pipelines of our times, Flinks Enrichment is the tailor-made refinery. This will prove critical as customers start expecting increasingly higher returns when they consent to share data.”
Flinks Enrichment enables fintechs and financial institutions to convert raw financial data into meaningful, actionable insights. Once deployed, it can provide over 1800 different insights that help analyze customers’ income, credit and fraud risk factors, and other key aspects of their financial profiles.
The insights come in a standardized format designed for decision-making, empowering analysts, underwriters, data scientists, and innovators of all kinds. Additionally, Flinks’ industry-leading no-code platform enables startups and small teams to use Enrichment as an out-of-the-box solution.
Practical applications of Enrichment have demonstrated that:
- Fintech lenders are able to pioneer more inclusive credit products for consumers with little to no credit history, by testing and implementing new risk factors in their underwriting process.
- Retail lenders can digitize their application process, which eliminates the need for customers to provide paper supporting documents and allows them to receive the financing they’re seeking nearly instantly.
- Innovative fintech startups can develop their products based on accurate financial profiles of their users, which would otherwise have only been possible by investing heavily in data science.
About Flinks
Flinks is the financial data layer powering the internet. Trusted by millions of individuals accessing financial services at world-class companies, Flinks enables businesses to connect to their customers’ financial accounts, enrich this data, and utilize it to deliver better digital products. Serving innovators in lending, fintech, digital banking, asset management and insurance, Flinks is quickly becoming a global leader in financial data connectivity and analytics. To learn more, visit flinks.com.
SOURCE Flinks
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