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Lending, Open Banking

American Banker: Data aggregation’s new frontier — Lending decisions

Financial data aggregation, long used to power digital personal financial management tools, has found a more moneymaking role — speeding up underwriting decisions.

“It’s what consumers have been doing for decades — just quicker,” said Nick Thomas, the executive vice president and co-founder of Finicity, a data aggregator in Murray, Utah, that Experian has invested in. “The credit-decisioning space is really the new frontier of data aggregation.”

To read the full article (paywall) on American Banker, click here.