Loan portability with Open Finance data Qorus-Infosys Finacle Banking Innovation Awards 2024
BrazilCategory
Core Offering InnovationKeyword
Loans, Customer experience, Transformation, Open Finance & New FS players, Data
Innovation presentation
An unprecedented solution for bank customers using Open Finance data: complete loan portability performed by the customer via the Banco do Brasil mobile app. Loan portability is an option for consumers who have taken out a loan and want to improve payment conditions or contracted rates by transferring this operation to another institution.
With this solution, Banco do Brasil customers who have shared their data via Open Finance can quickly simulate portability without needing to fill in their contract information to compare conditions. The application displays on the screen how much the customer will save if they transfer that loan to Banco do Brasil and allows them to request the transfer through the app without visiting a bank branch!
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