Emilian Siemsia's posts

25 February 2025

How Open Banking is Transforming Credit Decisioning for SME Lending

Small and medium-sized enterprises (SMEs) play a vital role in the global economy, yet many face significant challenges when it comes to accessing credit. Traditional lending processes, often slow and reliant on outdated financial data, can leave SMEs underserved and lenders struggling to make informed decisions. This is where open banking steps in—a transformative approach that leverages real-time financial data to redefine how credit decisions are made.

25 July 2024

How is AI used in financial analysis?

In the last few years, there has been a debate on AI’s impact on all aspects of business, including finance and banking. AI has been reshaping operations and streamlining processes across the entire financial services industry. Thanks to automation, more and more companies are able to reduce costs and prevent human error. It’s no different with financial analysis – Artificial Intelligence analyzes vast amounts of data, covering insights that would be impossible for humans to detect on their own.

26 June 2024

Decisioning Engine – make smarter business decisions effortlessly

Nowadays, financial institutions and lending companies are facing huge pressure to process and provide accurate and fast decisions on loan applications. Therefore, more technologies enabling making informed decisions started to appear in the market. Mostly these are credit decisioning engines, usually presented as a decision tree or rules flow. They are designed for the automation of decision-making – decisioning engines evaluate multiple factors to determine the probability of default

23 May 2024

How can the Planky Affordability tool revolutionize your business

Today, with a rapidly changing macroeconomic environment, more and more customers have been struggling to repay their loans. This is one of the reasons why it’s been harder than ever to accurately assess applicants’ affordability. The process is even more difficult for customers who are e.g. freelancers or expats. Multiple assessment criteria aren’t always enough to determine whether an applicant can afford to repay the loan.

14 May 2024

What is a Decisioning Engine and how does it work?

The role of proper loan decisioning is now more crucial than ever. However, manual verification of a customer’s affordability and credibility is both expensive and time-consuming. Also, it’s prone to human error. In consequence, financial institutions and lending companies have been looking for quick, accurate, and high-quality services that are fully automated and manipulation-free.

6 May 2024

Data enrichment – how is it crucial for financial and lending companies?

In today’s world, data is definitely one of the most valuable assets for businesses. In the financial industry, where there is no transaction or interaction without a digital trail, information is crucial if you want to drive business growth and success. Companies that enrich financial data can make more informed and personalized decisions. However, many institutions are still struggling to better understand their customers’ financial information.

30 April 2024

How open banking simplifies income verification

When it comes to procedures that lenders need to conduct before approving a loan, income verification is probably the most important one. However, income verification is often time-consuming and error-prone, especially when you rely on traditional methods and manual processes. Before open banking, a potential client had to get verification from their own bank and present the verification to the lender. From a lender’s perspective, the process required analyzing tons of documents and looking for information about salary and the history of repayment. Thankfully, open banking has simplified income verification and analyses.

23 April 2024

Why do you need a Categorization as a Service provider?

Risk assessment has been evolving in the last few years; however, the core principles haven’t changed. These are stability and ability to pay, boosted by the availability of data and improved processing capabilities. During the COVID-19 pandemic, the need for more accurate and real-time customer data turned out to be more crucial than ever. This is where CaaS (Categorization as a Service) may be a missing puzzle. It simplifies the transactional data provided by the bank to better understand customers’ incomes and expenditures.

15 April 2024

Transactions – how to make use of accurate, real-time data from a trusted source

Having direct and instant access to a bank account is now a standard most customers couldn’t live without. However, businesses may struggle with collecting and verifying data that comes from various sources. This is where Planky’s Transaction comes in. The platform enables businesses to extract real-time transactional data from the bank in one click. Yes, in one click – this is a real game-changer if you want to benefit from instant account verification, improve customer experience, and save on costs.

8 April 2024

What is account aggregation and how can it help businesses?

If you need to automatically access all financial assets without submitting multiple copies of physical or scanned documents, you must have heard about account aggregators. If it doesn’t ring a bell, time to change it - account aggregation is a perfect way to streamline underwriting processes by providing digital verification capabilities. How does it work? How can it be beneficial? Let’s find out!

2 April 2024

Prevent fraud with instant Account Check – how to do it right

Do you know that 2022 ended with over 2.4 million reports of fraud with losses reaching $8.8 billion? Financial transactions have been moving from paper-based to digital platforms which require more and more robust security protocols. Therefore, companies need more comprehensive fraud prevention and security protocols to make sure their online transactions are fully protected and error-free. One of the best tools designed to enhance your security protocols is Account Check.

25 March 2024

What is Account Check and why do you need it?

We live in the age of technology where manual account verification becomes more and more challenging, time-intensive, and expensive. Manual processes delay decision-making which often affects the business’s productivity and efficiency. But what if there is a quick and cost-effective tool for account verification? The Account Check solution is software that enables businesses to confirm the owner of a bank account by fetching real-time data from banks.

1 March 2024

Automated Credit Decisioning

In the dynamic landscape of finance, the evaluation of creditworthiness stands as a cornerstone for lending institutions. Traditional methods, reliant on manual processes, have given way to a new era of precision and efficiency through automated credit decisioning engines.