Wellington IT and TrueLayer are delighted to announce an integration that will deliver more efficient and effective loan applications for members and improve the approval process.

TrueLayer is an award winning, global open banking platform that makes it easy for anyone to build better financial experiences. Businesses of every size use TrueLayer to power their payments, access financial data, and onboard customers across the UK, Europe and Australia.

Under the partnership, Wellington IT’s core system, Scion, uses TrueLayer’s Data API to connect, with their consent, a member's account to their online banking, enabling secure access to transaction data. As a result, Wellington’s customers gain real-time insight and deeper understanding of their members’ finances to provide actionable advice and recommend the most suitable financial products.

Nick Tucker, Head of Financial Services, at TrueLayer, commented: “We are pleased to work with Wellington IT to bring the benefits of Open Banking to the Credit Union market in Ireland and the UK. This integration opens the way for Credit Unions to compete with banks, by providing members with more choice through highly personalised and tailored products.”

We are currently preparing for a roll out of the service this Spring.

Ian Glenn, CTO at Wellington IT states “The integration with TrueLayer will enable us to integrate Open Banking technology for Credit Unions, giving them direct access to members’ current accounts for income/expenditure analysis". 

With the new loan applications integration launching in April the next phase of development will be to provide the ability for you to request members who haven’t applied online, to use Open Banking to provide you with access to the back statement and transactions.

For more information on how our Open Banking integration works, register your interest below: