You are here: Home - News -

ClearScore plans Open Banking offering to prompt mortgage switching

  • 16/07/2018
  • 0
ClearScore plans Open Banking offering to prompt mortgage switching
ClearScore is to use Open Banking to offer users a detailed insight into their financial situation, with prompts to switch mortgages and credit cards.


The credit checking firm’s OneScore will combine credit scores with information pulled from current accounts, along with data from assets, savings and protection in an effort to help people better understand their finances.

It is the first time people will be able to combine their credit report with data from their current account, according to Clearscore.

Users are given a financial healthscore with analysis of their spending patterns and behaviour.

OneScore then provides recommendations such as switching to a better mortgage, loan or credit card deal to help save a user money.

Clearscore, which is to be bought by Experian subject to regulatory approval, already partners with Habito, L&C mortgages and Shawbrook Bank.

The service is set to launch in Spring 2019.

It comes as Clearscore prepares to launch in India and Australia, after expanding into South Africa.

Justin Basini, chief executive and co-founder of ClearScore, said: “Credit scores are really useful but only reflect a small part of your financial life.

“Our ambition has always been to go so much further.

“OneScore brings together your financial past and present in one place to give you the opportunity to create a better financial future.

“This will be transformative for millions of people, helping them gain control of their money and access credit products more cost effectively.”

OneScore is presented to the user as a flower with petals represent different aspects of their financial life.

Basini added: “Months of testing, with hundreds of users, has produced an easier, calmer, more beautiful experience unlike anything anyone has ever used before.

“This matters – the more engaged users are, the more likely they are to learn more about their finances, the more in control they feel, the better the decisions they can make.”

Imran Gulamhuseinwala, trustee of the government’s Open Banking Implementation Entity, said: “I applaud all applications of Open Banking which put the user in control of their data, making it easier to make more of your money.

“I very much hope the excellent work on OneScore will inspire other fin techs to also innovate and make Open Banking an industry success.”

There are 0 Comment(s)

Comments are closed.

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
The 10 biggest mortgage broker stories of the week – 13/07/2018

This week proc fee changes by two lenders hit the headlines, with Santander cutting its minimum, while Metro Bank raised...