Third Party Integration with Flinks

Flinks is a financial technology company that provides financial data aggregation services. Their platform offers APIs that enable businesses to securely access and analyse financial data from bank accounts and other financial institutions.

Flinks' technology facilitates the retrieval of account balances, transaction histories, and other financial information, which can be used for various purposes such as account verification, credit risk assessment, budgeting, and personal finance management.

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SparkLMS integrates with the best breed of third-party solutions in the Lending Eco-system to run a lending portfolio easily and profitably. Flinks + SparkLMS integration will allow lenders to streamline the borrower onboarding process by quickly and securely verifying bank account information. This reduces manual data entry and speeds up the application process for borrowers.

What it does

With this integration, lenders will be able to:

• Verify borrowers' bank account information and reduce manual data entry.
• Access real-time financial data to gain deeper insights into borrowers' creditworthiness.
• Automate income verification processes by accessing transaction data.
• Utilize transaction data to detect suspicious patterns and mitigate fraud risks.
• Develop tailored financial products and services based on borrowers' financial profiles.
• Adhere to regulatory requirements and data privacy standards while accessing financial data.

Benefits

• Automated account verification
• Enhanced credit risk assessment
• Streamlined income verification
• Improved fraud detection
• Personalized financial products
• Ensured regulatory compliance and mitigate legal risks

Pre-requisites

After on-boarding your lending portfolio on SparkLMS, you must set up an account with Flinks. We will guide you through the entire process of setting up Flinks in your instance of SparkLMS.