Roma Finance introduce Open Banking

27 November 2018

Roma Finance, the bridging and development lender, is delighted to announce it has successfully completed the pilot phase of offering an Open Banking solution to their customers.

Roma was one of the first, if not the first bridging lender, to be utilising Open Banking, since the start of September 2018 and has proven to be the fastest, easiest and most secure way for Roma to access a read-only version of their applicants’ bank statements.

Open Banking is a UK government backed scheme within retail financial services, which allows authorised third parties to securely share banking transaction information.

The Open Banking solution has helped Roma’s brokers and customers by removing the hassle and delays often associated with the collection of paper statements, helping to ensure prompt, responsible lending decisions are made.

In October 2017, Roma introduced a Fast Track lending process which resulted in their ability to complete most cases within fifteen days and this new initiative is seen as another step in their transformation of the customer journey through advanced technology.

More exciting technological solutions are in the pipeline to further enhance and speed up the customer journey and these will be announced in due course.

Scott Marshall, managing director of Roma Finance, commented: “We are continuing our strategy of investing in technology to ensure Roma Finance is the most technologically advanced lender in our sector. It’s our intention to constantly improve the way bridging loans are completed for the benefit of our introducers and their customers. We’re already completing many cases inside fifteen days and implementing technological solutions such as Open Banking will help everyone involved and lead to a smarter way to make good and timely lending decisions.”