AllData Aggregation Lending




Today, consumers expect speed and lenders expect accuracy. According to EllieMay, it takes an average of 44 days to close a loan. Through AllData® Aggregation, that all changes. Accessing financial data needed for credit decisions happens quickly, eliminating the traditional paper chase. AllData Aggregation also streamlines the process for the borrower. Rather than gathering documents and downloaded pdf’s from multiple sources, consumers grant lenders permission to use AllData Aggregation to collect all their financial transaction data in one place.

Why Do Lenders Need AllData Aggregation?

Doctored documents have always been a problem within the lending process. A report by Corelogic shows 1 in every 109 mortgage applications contained fraud, with fraud risk jumping more than 12% year over year since 2018. And a Fannie May trends report showed 45% of loans investigated for fraud were related to income. 

With AllData Aggregation, the required data for financial verification is available in real-time, sourced directly from financial institutions. This eliminates the risk of numbers being altered in physical or electronic documents. 

We are absolutely happy with the decision to use AllData Aggregation. There was a lot of research and cost‑benefit analysis involved in making this decision. We looked at data-aggregation competitors and, time after time, we stuck with AllData Aggregation and Fiserv.

– Kristen Havner, Interactive Brokers


Transactions

Get complete 24-month transaction insights.
 


Assets

Account types, average balances, and transactions.
 


Employment

Employment history provided in real-time.
 


Statements

Accurate account verifications right from the source.
 


Cash Flow

Provides a view into a borrower’s financial health.
 


Income

Two year income history for all financial accounts.
 

Getting Started is Easy

Lenders can add AllData Aggregation to existing platforms, enabling an unparalleled blended data environment for any application. Aggregated data can be delivered using REST APIs, easily integrating the data you need with any new or existing application, regardless of the underlying technology platform.

  • Flexible integration: Supports any application requiring personal financial data regardless of the native underlying technology platform and is available via REST API
  • Widespread coverage: Provides an end-to-end financial view with extensive account type coverage
  • Bank-grade security: Leverages the same technology used by the world's leading financial institutions to safeguard banking websites, and protect personal information like usernames and passwords, as well as account and transaction data
  • Extensive, reliable data: Supplies account balance and transaction level data that is updated daily and processed through a set of standard data quality checks

Talk to a solutions expert to ask for a demo or request sandbox access.

Visit our AllData Aggregation product page for more information. Contact us to learn how we can help shape your future projects with AllData Aggregation.

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