Real-time credit reference agency and Open Banking platform AperiData and partner PayPoint have continued to rollout their Open Banking solution to Citizens Advice Bureaus (CABs) in the UK, with their latest implementation at Cambridge CAB.
The partnership between AperiData and PayPoint commenced in 2023, with the aim to provide Open Banking-based affordability and alternative credit referencing solutions for their clients.
Together, they developed the Financial Information System (FIS) Customer Support Tool, providing instant and accurate data to inform decision making.
UK-based charity Citizens Advice provides individuals with free and confidential advice, which requires its case workers to have accurate paperwork and information on their clients.
According to AperiData and PayPoint, case workers previously relied on “slow, manual reviews that could take several weeks, months or in some instances years”.
Citizens Advice Stevenage was the first to implement the solution and, in the 12 months since launch with Citizens Advice Bureau, offices in Cambridge, Dover, Stockport, Oldham, Rochdale and Trafford have also adopted the solution.
Andrew Bonsall, chief operating officer at AperiData, said: “Our work at AperiData is grounded in the concept of financial inclusion and financial wellbeing, so rolling out our FIS Customer Support Tool to the Citizens Advice Bureau Cambridge is a perfect application of our solution.
“We are thrilled that this and many other Citizens Advice offices are now benefitting from being able to gather the information they need quickly and help case workers provide counsel faster.”
In May this year, PayPoint made a £1 million investment in AperiData, building on the existing commercial partnership between the two companies, the focus of which is on delivering Open Banking solutions for clients across multiple sectors, including government, local authorities, charities and housing associations.
Nick Wiles, chief executive officer of PayPoint, added: “We’re delighted to be supporting even more Citizens Advice Bureaus in partnership with AperiData.
“Open Banking is a key growth area for the group and is one of our key building blocks to delivering £100 million EBITDA [earnings before interest, taxes, depreciation and amortisation] by the end of full-year 2026.”
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