Aggregation
Accelerating Open Banking
Instantly connect to any bank account to facilitate the payment process using Zūm Rails’ open banking-powered data aggregation capabilities. Eliminate the need for manual processes by allowing your customers to enter their financial account credentials once using automated data aggregation. Use the financial data collected to view critical insights, conduct statistical analysis, enhance the underwriting process and make better business decisions.
Enhance your users’ payment experience by enabling them to connect their bank account directly from any smart device. Zūm Rails’ aggregation feature allows your customers to connect their bank account in seconds and is compatible with all major financial institutions with over +6,000 available for connection within our network.
Connecting through aggregation also allows you as a business to access a wealth of knowledge and KYC data that can be leveraged to run risk analyses, evaluate customer financial health, assess buying trends and identify any high-risk behavior.
Utilize our powerful open banking capabilities to enhance underwriting and risk mitigation processes, create a holistic view of your customers’ financial history and improve your payments journey.
Connect your client's financial accounts
Securely connect to end users’ bank accounts to validate their identity. Plus, analyze and manage their aggregated financial data, all from one place. You can view:
- Know-Your-Customer (KYC) details (name, address, email, phone number)
- Bank account information (account, transit, institution number)
- Real-time account balance verification to ensure funds exist before debiting an account
- Option to retrieve 3 or 12 months time period of transaction history
- Financial health reporting and actionable insights to allow informed decision making
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