The Only Secure Real-Time Affordability Checking Solution

Enabling organisations to unlock deep insights into their client’s financial profiles and simplify the application process for consumers

MOGOPLUS is a uniquely-secure online assessment solution which enhances the credit-based decision-making-process for both businesses and their clients. We enable organisations to analyse their customer’s financial health in minutes, substantially improving the speed and accuracy of their affordability and credit decisions.

Unlike other solutions, MOGOPLUS is also great for consumers, because we don’t store their online banking credentials or passwords. By protecting this information, MOGOPLUS safeguards both the reputation of the business and the financial well-being of the consumer against data breaches and fraudulent activity.

BUSINESSES

MOGOPLUS is a digital affordability-assessment tool that enables consumers to share detailed financial information with potential financial service providers. It’s faster, less vulnerable to fraud and provides detailed financial information that is not visible on a credit report.

Our customers save hours of manual processing time for each application, reduce their exposure to risk and unlock valuable insights into their client’s spending behaviour. These efficiency savings enable businesses to save money and process more applications, quicker.

CONSUMERS

Safely share your transactional financial information in real-time and receive an instant credit decision from your lender without sending PDF copies of your bank statements and payslips. Using MOGOPLUS won’t affect your credit score, and by providing lenders with a complete picture of your finances, you get the best rate tailored to your unique solution.

Unlike other solutions, you remain in complete control of your security. Your log-in credentials are completely hidden (except from you and your bank), and we use the same level of encryption as most banks.

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How it works

  • 1

    ACCESS

    MOGOPLUS is either integrated into the lender’s application, or access is provided through a secure link. When users access the service, they log-in in the same way as they would their online banking

  • 2

    CONTROL

    One-time digital access to the client’s data is provided by a sealed smart browser. The consumer retains complete control over their online security during the process; log-in credentials are not seen, handled, or stored by third-parties or MOGOPLUS

  • 3

    PROCESSING

    Data is captured, categorised, and structured before being encrypted and sent back to the lender. Branded bank statements are provided via API or in PDF format

  • 4

    EFFICIENCY

    With MOGOPLUS, the end-to-end process can be reduced to just minutes. Lenders save hours of manual processing time, and consumers receive their decision quicker. The secure process minimises fraud and security risks while increasing the accuracy of decision-making

Our products

Our products are used by some of the world’s biggest banks and financial intermediaries to improve their efficiency, security, and speed; these benefits enable our typical customer to unlock huge cost savings. We provide a range of services to ensure organisations can collect the right information for each situation:

FEED DOCUMENTS

Extract, process and analyse consumer financial data from documents, e.g., payslips or bank statements

SWITCH

Pain-free switching from another lender. Instantly verify a consumer’s name, address and bank account information, including Direct Debits and Standing Orders

STRUCTURE AS A SERVICE

Automatically organise transactional data according to your in-house rules and categorisations

ID

Verify consumer’s name and address

INCOME & EXPENSE

Verify a consumer’s name, address, bank account information, income and expenditure items

INCOME ONLY

Verify a consumer’s name, address, bank account information, and any sources of income

MATCH

Verify a consumer’s name, address and bank account information

Advantages

Speed & Efficiency

The end-to-end process takes just minutes, saving time and improving the customer journey for consumers. Lenders can save hours of manual processing time per transaction, enabling them to process more applications from consumers and dramatically increasing their productivity

SECURITY

Single-use connection using 2048-bit RSA encryption with no storage of log-in credentials. MOGOPLUS has passed security assessments conducted by major banks, global consulting firms and 3RD-party IT and security consultants

Compliance

MOGOPLUS is compliant with GDPR, PSD2, ISO 27001, and the Data Protection Act. Unlike competitor solutions, MOGOPLUS does not see or store consumers log-in credentials

Convenience

Provide your customers with a faster response time and an easier and more secure way to share their data across multiple institutions and accounts

ACCURACY

Analyse a consumer’s bank and credit card transactions in real-time. Complete data on the client’s income and expenditure enables affordability calculations with improved accuracy

Insights

Lenders get deep insights into their client’s real financial profile, reducing the risk of lending, and enabling them to select appropriate products for each customer

REDUCE FRAUD RISK

Research shows that 96% of mortgage fraud is as a result of applicants falsifying the information they provide. MOGOPLUS is able to extract bank-branded statements directly from the consumer’s bank account; these statements are both accurate and tamper-proof

FLEXIBILITY

Receive output in three different ways: customisable MOGOPLUS reports (which can be matched to your in-house assessment criteria), bank-branded statements, or as raw JSON data. Data can be uploaded for analysis by PDF (original bank statement), data feed, or by direct access to online banking

CATEGORISATION

Our proprietary categorisation engine provides lenders with a granular overview of their client’s spending patterns. By revealing specific amounts paid for related financial products, MOGOPLUS enables effective cross-selling of other products

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