‘Groundbreaking technology’ should help ‘improve the rental experience’

‘Open banking’ provider TrueLayer has teamed up with Goodlord to enhance the proptech platform’s fintech integration for landlords, tenants and agents.

Goodlord’s proprietary technology streamlines a range of lettings services, including deposits, contracts, compliance, tenant move-in assistance, insurance and referencing.

TrueLayer, one of the first UK companies to be authorised and registered as a payment institution by the Financial Conduct Authority (FCA), has among other things created universal APIs that enable companies to securely and efficiently access customers’ bank accounts to share financial data, make payments, and validate their identity, allowing companies to capitalize on new open banking initiatives throughout the country.

Initially, Goodlord, which has created a cloud-based one-stop-shop platform by providing access to a dynamic suite of specialized services, including insurance, e-signing, referencing, and e-payments, will incorporate TrueLayer into its next-generation referencing solutions, providing participating tenants with an instant assessment of their financial situation.

Marvin Luksenberg, Goodlord’s Head of Referencing, said: “Tenant affordability assessments using the lettings industry’s traditional methods can take days, are intrusive, prone to fraud, and directly stand in the way of making the renting experience simple and stress-free.

“As a leading referencing provider, we are excited to offer this groundbreaking technology to tenants throughout the UK and to continue improving the rental experience by developing and investing in technology.”

Open banking, a government-led initiative that allows consumers to share their banking data with businesses through a secure connection created by the banks themselves, is really gathering pace, according to Francesco Simoneschi, CEO and co-Founder of TrueLayer.

He commented: “Each week we see new products and services that fuel disruption and improve the consumer experience. Goodlord is an excellent example of this process in action.

“By working with TrueLayer, Goodlord’s customers will be safe in the knowledge that they are using the most secure service available.”

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