The data is utilized for credit underwriting and risk management purposes. You can leverage this data to calculate disposable income, analyze financial insights, and make automated credit decisions. Additionally, you can monitor the performance of your portfolio over time.

Open Banking is a regulation that all banks in the UK must follow without any exceptions. This means that as Planky, we can establish a connection with all the banks and securely deliver their data to your organization in compliance with regulations.

We currently publish the list of banks that we support on our website. As stated in our product roadmap, we will be extending our connectivity with more banks in Q1 2023.

You can delete the data from Planky if you don't require it. This can be achieved through manual means, either via the dashboard or API, or automatically using retention period rules

No, Planky is currently focusing on utilizing the data available in Open Banking. We provide various types of data, including raw transaction data, account holder information, and balances. Additionally, we offer transaction categorization and insights based on the available data.

Currently, the risk criteria for all customers must be the same. However, we can create a separate Dashboard Application for your business, which will allow you to define individual risk criteria for each of them.

In addition, we are planning to include decision rules for each loan product in the future.

Open Banking does not provide transaction categories by default. Our responsibility is to analyze transaction information to determine the appropriate category. Occasionally, a bank may provide a new description for a transaction that we have not seen before or multiple businesses may report the same transaction description in a similar way.

To address such issues, we continually monitor transactions and collaborate closely with our customers. Therefore, if you notice any transactions that are incorrect according to your knowledge, please report them to us immediately.

Our first step was to identify a suitable taxonomy of categories for the lending business, which we achieved by closely collaborating with our lending partners. We then developed a machine learning system to accurately assign each transaction to its corresponding category. To do this, we created training files and used them to develop advanced machine learning models.

Planky categorizes bank transaction data, with dedicated categories for bills and credit cards. We can also detect loans, mortgages, and other financial obligations. Furthermore, we can identify debt management activities that may be relevant to your financial standing.

While we do not provide information specifically about missed payments, we do offer a group of similar transactions with three scores: Consistency, which indicates whether the amount of money is consistent across transactions, Regularity, which shows whether the frequency of payments is the same, and Longevity, which reveals how long we have observed these transactions.

Yes, you can request that your customers connect additional banks after the initial assessment. All the records will be consolidated, and a new report will be generated.

After a customer grants us access to their bank account, we update the report four times a day as long as we are granted access. We do not notify the customer about these updates. However, you as a lender will receive a notification if a new event or alert is generated.

Yes, you can download PDF statements from Planky Dashboard.

Yes, you can access all of our risk analytics and insights, but you will need to utilize our API. In the Dashboard, you can export bank account transactions in either PDF or Excel format.