A borrower applies for a loan. They’ve done everything right: great credit score, stable income, but their application is stuck. The reason The customer has only shared one bank account, but the underwriter suspects there could be additional accounts based on transfers or activity patterns. Without access to a complete financial picture, the underwriter must go back and request more information—adding delays to the process and risking frustration for both parties. This manual back-and-forth can be time-consuming and leaves room for critical details to be missed, making informed credit risk decisions far more challenging.
This scenario plays out daily in lending institutions across the UK. With the average adult holding nearly three bank accounts, lenders are grappling with the challenge of fragmented financial data. These blind spots not only slow decisions but also introduce risks at a time when borrowers expect speed and regulators demand precision.
Multi Account View changes all of this. By simplifying fragmented data into a single, real-time dashboard view, it gives underwriters the tools they need to make faster, more confident decisions. It’s not just an enhancement; it’s a smarter way to underwrite.
Evolving borrower behaviour and affordability challenges
Borrowers no longer rely on a single institution for their financial needs. Income deposits, savings accounts, and credit cards are often spread across multiple banks. For lenders, this diversification creates blind spots. Without access to all accounts, underwriters often have to rely on incomplete information, leading to delays or misinformed decisions.
Adding to this complexity, affordability rules have tightened. The Financial Conduct Authority (FCA) requires lenders to conduct thorough and real-time affordability checks, ensuring decisions are based on a borrower’s full financial picture. However, fragmented data makes this increasingly difficult, leaving underwriters struggling to meet both borrower expectations and regulatory demands.
The challenge is further exacerbated by the speed at which borrowers expect decisions. A delayed request for additional bank accounts or clarification can frustrate applicants and damage their perception of the lender. In a competitive market, where efficiency and trust are key, failing to deliver a seamless experience can push borrowers toward faster-moving competitors. Lenders need a solution that ensures active and regularly used accounts, those critical to day-to-day financial activities, are prioritised, while dormant accounts, which hold less relevance for lending purposes, don’t complicate the process. No account should be overlooked, no insight missed, and no borrower left waiting unnecessarily. account is missed, no insight overlooked, and no borrower left waiting unnecessarily.
Why Multi Account View is the solution
Multi Account View eliminates these inefficiencies by giving lenders a clear, complete, and real-time view of a borrower’s financial picture. No toggling between systems. No piecing together siloed data. All account data is centralised, grouped by bank, clearly categorised, and instantly ready for analysis.
What’s more, Multi Account View allows customers to share multiple accounts upfront with just a few clicks making the process seamless and frustration-free. By streamlining the process, borrowers can provide the full scope of their financial information quickly and effortlessly. This minimises delays and gives underwriters the complete data needed for accurate decisions.
Here’s the benefits:
- Faster decisions: Spot patterns like recurring income, unusual spending, or loan stacking instantly. Underwriting time is cut dramatically, freeing teams to focus on more strategic tasks.
- Improved accuracy: A consolidated view reduces the risk of errors, helping lenders make decisions that are not only faster but better informed.
- Better borrower experiences: Deloitte reports that 67% of borrowers are more likely to recommend a financial institution when loan processing is quick and seamless. Multi Account View ensures this becomes the standard..
More than speed, it’s compliance too
Beyond improving efficiency, Multi Account View helps lenders stay ahead of regulatory demands. FCA guidelines require affordability checks to be based on comprehensive, up-to-date data. With all the information in one place, Multi Account View makes compliance straightforward, reducing the risk of errors and penalties.
Meeting requirements is just the start. Smarter tools give lenders the edge to stay resilient, ready to navigate changing regulations, rising customer demands, and growing competition with confidence.
Leading the way in lending
In lending, the competition isn’t waiting. Borrowers expect seamless, efficient processes, and fragmented systems simply don’t deliver. McKinsey’s research shows that 76% of consumers demand personalised, quick service from their financial providers. Falling short risks losing those customers to faster, more agile competitors.
Multi Account View bridges the gap. By consolidating accounts into one real-time dashboard, it enables underwriters to deliver decisions faster and with more precision, helping lenders build trust, reduce risk, and stay ahead of the competition.
Conclusion: from blind spots to clarity
The lending industry is more complex than ever. Borrowers expect speed, regulators demand transparency, and lenders need clarity to succeed. Multi Account View addresses these challenges by consolidating fragmented financial data into a full, real-time view, enabling faster approvals, better decisions, and stronger compliance.
By leveraging open banking and transaction data, Multi Account View not only simplifies credit risk assessments but also ensures regulatory standards are met without compromise. It accelerates decision-making, fosters trust, and empowers lenders to adapt to the evolving needs of borrowers,—all while staying ahead of the competition.
Keeping up isn’t enough. With Multi Account View, lenders can lead the way, setting the benchmark for speed, accuracy, and reliability in modern lending.
Want to see it in action? Book a demo today or email us at hello@atto.co and discover how it can transform your lending process.
