Canada-based ASAPP Online Solutions and Flinks have partnered to connect account and lending origination with more than 250 million Canadian financial accounts.
Flinks software will provide financial institutions using ASAPP’s origination solution with instant digital KYC information.
Data made available will include consumer’s name, address, email, and phone number, instant verification for institution, transit and account number, 12 months of account transaction history, and real-time balance verification and product cross-sell / upsell recommendations.
The integration of Flinks technology will take place in November as part of a software release which will also improve user experience.
ASAPP is an omni-channel account and loan origination solution for retail and small business banking companies. The platform supports digital banking services with a range of services on offer including real-time lending origination, digital document e-signatures, core banking integration, insurance integration, analytics, and management tools, among others.
Founded in 2017, Flinks is an ‘open banking enabler’ in Canada, helping to connect around 200 FinTechs and banks across Canada, US and Europe to more than 250 million Canadian financial accounts. Its technology aggregates financial data and verifies bank accounts, letting consumers to safely share their information with banking and nonbanking digital services.
Its services include credit scoring and loan decisions, KYC, transaction history and monitoring, bank balance updates, and account verification.
ASAPP Online Solutions VP marketing and operations Ryan Yates said, “The addition of Flinks technology is a dramatic enhancement to the ASAPP experience, allowing financial institutions a level of automation, speed and security that would otherwise not be possible.”
Earlier in the month, Flinks raised $1.75m in a funding round from National Bank and Luge Capital, among others. The capital was raised to support the acceleration of growth and launch of an AI-powered risk assessment solution.
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Copyright © 2018 RegTech Analyst
