Bankflip is a mobile application that utilizes secure data aggregation techniques to capture and process real-time income, tax, and employment data directly from verified sources. This enables financial institutions to enhance their underwriting and verification processes, improving accuracy in income verification and tax compliance while reducing operational costs.
Funding
$2.8M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
BAE+2Founders
Product
Problem
Financial institutions face challenges in efficiently and accurately verifying customer income, employment, and debt, often relying on manual processes and fragmented data sources. This can lead to increased operational costs, slower underwriting times, and potential inaccuracies in risk assessment.
Solution
Bankflip provides a real-time data aggregation platform that enables financial institutions to access verified customer financial data directly from its source. Through a single integration, lenders can obtain permission-based access to income, employment, and debt information, streamlining underwriting and verification workflows. The platform offers a low-code widget that can be embedded into existing applications or launched via a URL, providing a seamless customer experience. By automating data collection and verification, Bankflip helps financial institutions improve operational efficiency, reduce fraud, and make more informed lending decisions.
Target Audience
Bankflip primarily targets financial institutions, including digital lenders, online mortgage brokers, banks, and fintech companies, seeking to streamline their underwriting and verification processes.
Features
- Real-time access to customer income, employment, and debt data
- Permission-based data access with explicit customer consent
- Integration with various data sources, including government agencies and financial institutions
- Low-code widget for easy integration into existing applications
- Secure authentication against public administrations
- Qualified Electronic Signatures (QES) for advanced connections
- End-to-end encrypted connections and data storage
- Dynamic login methods for optimal user experience
- One-time and recurrent data access options