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Lend With Confidence.

173tech can help you integrate open banking data into your analytics set up. Expand your audience, lower CAC and improve default rates.

173tech compass

Power a smarter application process by leveraging big data.

173tech default (2)

Lower your default rate and proactively identify pre-arrear customers.

173tech augment

Serve customers who would ordinarily be financially excluded.

A Complete Picture.

With an ongoing ‘cost of living’ crisis the UK loans market is becoming increasingly competitive. But how can providers expand their reach without also expanding their risk? Get a complete picture by combining and overlapping data from:

How We Work.

We work with your the tools and processes you’ve already established or can set up from scratch. You get direct access to the team through weekly calls and a shared slack channel. We deploy a full team to every project for speed and quality assurance consisting of:

1
Project Leads
Who oversee implementation & data strategy.
1
Engineering Leads
Who oversee all technical implementation.
1
Data Engineers
Who support on infrastructure, implementation, optimisation and maintenance.
1
Analytics Engineers
Who support on modelling and insights generation.

Case Study.

Objective: According to research by PWC, 20 million UK adults are held back by inaccurate credit data, and so Plend were looking to go beyond traditional credit scoring by combining open banking data with bureau data for fairer loans with a lower default rate. They turned to 173tech to set up their infrastructure which could handle the big data sets involved. ​

Solution: Open banking data includes far more background information about an applicant, including their transaction history and spending. These large sets of data needed to be combined with more traditional bureau data and then quickly analysed for level of risk and potential loan value. We set up a data stack from scratch than could easily scale without heavy cost implications, and then modelled the two data sets, integrating them into Plend’s decision-making engine.

Outcome: Our work helped to fund more than £8m in fairer loans in Plend’s first year of operations and paved the way for them to start hiring their own data team in-house. By adopting open banking data they significantly decreased their default rate and identify pre-arrear customers, helping to stop them from falling behind with their debt repayments.

Frequently Asked Questions.

Whose involvement we'll need.

We join forces with your team. By helping us to understand your business, goals, existing data processes and challenges,  we can better return value from data more quickly.

Having a project manager (e.g. A head of data or a lead analyst) and a technical point of contact would facilitate an efficient on-boarding process and on-going collaboration.

Your time commitment.

To get us up to speed quickly, we typically need a one-hour strategic session to go over your business goals and challenges and a one-hour technical session to understand your existing data stack and best practices. On an ongoing basis, we have a 45-minute weekly sync to provide you with project updates and a shared Slack channel for ad-hoc questions.

The setup we will need.

All we need to get started is access to your tools, sources and any existing data infrastructure and documentation.

Can you work on our existing data stack?

Yes. We work with companies of all sizes and data maturity hence are used to being onboarded quickly within your existing data stack. We collaborate closely with your team to ensure that we follow existing development guidelines and are not affecting your current work stream. We can also help optimise your data stack at your request.

Ready To Start Your
Data Engine?

Want to find out what the possibilities are for turning your data into business drivers?

Not sure if your ideas for using data are technically feasible and will generate ROI?

Have a specific use case in mind for your data but don’t know how to get started?

Get in Touch!