Beyond credit scores: How Open Banking data is improving hyper-personalisation and risk insights
In this latest edition of Open Banking: Real-Time Data Digest, we’re covering two main ways businesses are using Open Banking data to improve decision-making:
? Hyper-personalising products – making offers more relevant and timely.
? Spotting high-risk spending habits early – using real-time transaction data to proactively detect financial stress before it becomes a problem.
How Open Banking data fuels hyper-personalisation
Customers expect financial services to understand their needs. In fact, 74% say they want personalised banking experiences. But traditional marketing tools rely on outdated data, making it hard to target the right people at the right time.
Open Banking data gives real-time visibility into how people spend, save, and manage money today, helping businesses:
? Improve segmentation – Identify customers based on actual spending patterns (e.g., frequent travel, home improvement purchases).
? Deliver timely offers – Make credit products more relevant by matching them to real financial behaviour.
? Improve engagement – Offer products that align with personal spending priorities, rather than broad demographics.
For example, instead of sending generic credit offers, a lender can spot frequent travel spending and provide tailored rewards programs—making offers more appealing and effective.
Spotting the warning signs: Using Open Banking data to flag high-risk spending habits
For lenders, spotting financial stress early is critical—but traditional credit data often arrives too late. Open Banking provides a real-time view of spending behaviour, helping businesses identify risks as they develop.
Key warning signs Open Banking data reveals:
??Excessive BNPL use – A growing reliance on BNPL can signal affordability issues.
?? Payday splurges followed by low balances – Spending patterns that leave accounts depleted soon after payday.
??Gambling spikes – Increased gambling activity, particularly right after payday, can be a sign of financial difficulty.
AperiData joins NatWest’s Fintech Growth Programme
AperiData has been selected as one of five fintechs to take part in NatWest’s first-ever Fintech Growth Programme. This initiative brings together startups that are driving innovation in financial services, offering access to NatWest’s senior leadership, industry experts, and a curated scale-up curriculum.
Why this matters:
*?? Supporting financial inclusion – AperiData’s mission is to help underserved consumers by improving credit scoring and lending decisions.
*?? Driving better outcomes for businesses and consumers – Through Open Banking, we provide more accurate affordability insights for fairer financial decisions.
*?? Collaborating with industry leaders – Working with NatWest will allow us to refine our solutions and continue helping businesses make smarter lending decisions.
We’re excited to take this next step and continue shaping the future of Open Banking.
Got a topic or challenge you’d like us to cover?
Let us know—we’d love to hear from you.
?? Want to learn more about AperiData’s solutions? Visit aperidata.co.uk or get in touch.
See you next month with more insights and ideas!