FAQs

Open Banking allows certain companies specially regulated by the FCA as Account Information Service Providers (AISPs) to connect directly into the UK's largest banks and financial institutions to securely access individuals' and SMEs' financial transaction data through APIs. Open Banking data can only be accessed with the individual or SME account holder's consent. Credit Kudos, an AISP, provides an online interface for requesting that consent, and enables the connection of multiple financial institutions at one time. Credit Kudos then consolidates the financial data retrieved through Open Banking into a useable format for lenders, brokers, and banks. A third party company not regulated as an AISP cannot access Open Banking without working directly with an AISP.

An API is a way for different technology products to communicate instantly and securely. One website, app or company can request information from another through the internet or a secure connection, then get data back in a standard format. Open Banking using APIs to transmit data between the banks and licensed and authorised companies like Credit Kudos.

Occasionally the banks have times when they are unable to process certain accounts through Open Banking. If your bank is on the list of banks we support, we recommend you try again. If your account still isn’t working, you can let us know by chatting with us through our website https://creditkudos.com/ or by emailing support@creditkudos.com.

Your bank keeps a record of what data you’ve shared and where, and you can revoke access within your online banking at any time.

Credit Kudos never charges individuals to use our services or Open Banking. We make money by licensing our software and services to lenders.

At the moment, Open Banking only covers banks with a presence in the UK, but we’re expanding to countries in the EU and beyond soon. If you are a business or bank interested in partnering with Credit Kudos outside of the UK, please reach out to us directly: hello@creditkudos.com.

Whilst we cover the vast majority of the current accounts in the UK, there are still some financial institutions that don’t support direct connections. We currently support Lloyds, Halifax, HSBC, RBS, NatWest, Nationwide, Santander, Barclays, Bank of Scotland, First Direct, M&S Bank, Ulster Bank, First Trust, AIB, and Danske Bank. We’re bringing on new banks and building societies quickly, so check back soon if yours isn’t on the list.

No. We can only access your financial data when you go through a specific process with us and your bank. We will always make it clear exactly what data you are sharing before you share it.

With Credit Kudos, you are in control. The technology we use to access transaction data, called Open Banking, is only possible with your explicit consent. Don’t want to share? You don’t need to do anything; Open Banking is opt-in only. Some of our partner companies might give you other options instead (for example, providing photos of your bank statements). Credit Kudos is almost always faster and more secure than other options.

We currently support Lloyds, Halifax, HSBC, RBS, NatWest, Nationwide, Santander, Barclays, Bank of Scotland, First Direct, M&S Bank, Ulster Bank, First Trust, AIB, and Danske Bank.

Yes, your bank and Credit Kudos have a trusted, secure connection. Your bank only has Open Banking connections with licensed and regulated companies like Credit Kudos.

Credit Kudos uses financial history to build an accurate credit profile. Your bank has the most complete picture of your ability to borrow. Unlike traditional credit checks, we only use data you agree to share.

Only Credit Kudos and the lender or company who has asked you to complete a Credit Kudos check will have access to any information about you. We will always tell you the name of the company you will be sharing data with and exactly what data you are sharing. We only share your Open Banking data with your explicit consent.

At the moment, we are only working with banks with a presence in the UK, but we’re expanding to other countries in the EU and beyond soon. If you are a business interested in partnering with Credit Kudos outside of the UK, please reach out to us on hello@creditkudos.com.

Open Banking allows you to manage the financial data your bank or building society generates from your bank account. Budgeting apps, price comparison websites, and loan providers can help you find a better deal by using the data your bank already holds for your account. You can use Open Banking to authorise your bank to securely share your financial history with FCA-authorised companies like Credit Kudos. Don’t want to share? You don’t need to do anything. Open Banking is opt-in only.

Credit Kudos looks holistically at what you can afford to borrow and the financial commitments you currently have. We don’t penalise you for not having taken out credit before, your age, or how long you’ve been at the same address. Instead, we figure out how much debt you can realistically take on given your financial history. We never want you to be turned down for a loan you can afford. Our mission is to get you the best deal possible for your unique financial situation.

Creditors look for responsible saving and spending habits. This means ensuring your financial obligations (phone bills, loans, council taxes, rent, utilities) and discretionary spending (restaurants, entertainment, travel) do not regularly exceed how much money you make in income. You don't need to take out loans or do anything special to improve your Credit Kudos score. Good financial habits - only using your overdraft when necessary, and regularly earning enough income to cover your bills - are enough to show lenders you are likely to pay back a loan. We never want you to be turned down for credit you can afford.

No, completing a Credit Kudos check will not affect your traditional credit score. Unlike the traditional credit bureaus, we don’t mark your universal credit report when you go through a credit check. If you are taking out a loan, however, your lender might also complete a traditional credit check separately, which could impact your credit score. It’s best to check with your lending institution if you are unsure.

Your bank and Credit Kudos have a trusted, secure connection through a UK Government initiative called Open Banking. When applying for a loan or through our website, Credit Kudos will prompt you to select your bank, and your bank will walk you through the process of authorising Credit Kudos. The process only takes a few minutes, and we'll guide you through each step. If you don't want to share, you don't need to do anything. Your financial behaviour is only accessible when you specifically consent to share it.

Yes, you can connect as many accounts as you need from one bank or from multiple banks. Simply connect accounts from one bank first, then when your connection is finished you’ll see the option to add accounts from another bank.