Open Banking
Solutions for data and transaction monitoring
Until now, risk assessment has been based on historical payment experiences. However, this method is not always accurate, as it often fails to take into account the current financial situation—a crucial factor in assessing contract conclusions.
The European Payment Services Directive 2 (PSD2) established uniform standards for payment transactions in 2019. CRIF uses this basis to act as an AISP (Account Information Service Provider) with the NEOS solution (New Evaluation Open Suite).
Thanks to NEOS, we can perform more accurate risk assessments using real-time data.
NEOS – An API-based SaaS solution
As a reliable partner with an AISP license, CRIF offers a powerful combination of categorization engine and advanced analytics for informed risk assessment.
CRIF's open banking software provides access to payment accounts to accelerate credit assessments for consumers and businesses, categorize customer account transactions, create a profile of spending behavior, and identify corresponding development opportunities.
Thanks to CRIF's ML and AI technology, financial institutions and other industries can use their customers' transaction data (checking accounts, credit, etc.) with accurate categorization to create specific profiles and indicators for effective risk avoidance and loss reduction plans.
