Monday, July 4, 2022
Real EstateUK

YTS to provide improved insights for UK mortgage lenders


Lenders will be able to use YTS’ Account Information Services (AIS) to confirm data about the homebuyer

Open Banking specialist, Yolt Technology Services (YTS), has widened the applicability of its Account Information Services (AIS) to provide improved insights for UK mortgage lenders.

AIS facilitates the secure transmission of an individual’s transactional data across to a regulated lender, with that individual’s permission.

Citing 96% accuracy in the categorisation of an individual’s spending transactions and income, and with bank-grade data security built-in, the enhanced data insights of YTS’ AIS will support mortgage lenders to make faster, better decisions on credit-worthiness and affordability, as well as aiding in the process of customer identification.

Mortgage lenders will be able to use Account Information Services to verify the homebuyer’s income and speed up confirmation of the homebuyer’s identity.

In addition, it says that lenders will be able to streamline the onboarding of new business and make better credit decisions.

YTS operates across Europe and sees in excess of 26 million API calls every single week – equivalent to around 20% of all API calls in the market.

Leon Muis, chief business officer, Yolt Technology Services, said: The power of open banking technology has enabled consumers to regain control of their personal finances, better manage their spending, improve their saving habits and ensure they have access to the best rates for financial products.

We have been supporting some of Europe’s largest financial institutions and fastest-growing technology businesses with AIS and other open banking services (data enrichment and payment initiation services) from day one, Muis said.

He said, today we hope to build on these benefits, in collaboration with mortgage lenders, to ensure the process of buying a home is as smooth, swift and secure as possible – for both the buyer and the lender.


The articles are for information purposes only and Invest for Property shall not be held responsible for any errors, omissions or inaccuracies within it. Any rules or regulations mentioned within the website are those relevant at the time of publication and may not be the most up-to-date.

Invest for Property does not endorse any of the products or services that appear on it or are linked to it and are not liable for any action that you may take as a result of the content of this website, or losses or damage you may incur doing so.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Please remember that investments of any type may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

Leave a Reply