8 in 10 Applicants Share Their Banking Data to Secure Better Loan Terms

PRESS RELEASE

8 in 10 applicants share their banking data to secure better loan terms

Open Banking-based assessment processes at ubimia® register consent rates of between 80% and 90%

Madrid, 26 August 2026 - Sharing banking information with a financial institution still triggers some distrust, and for many consumers the first reaction remains wariness. But when doing so can help them get a faster response or better loan terms, most are willing to do it.

Data from ubimia®, a Spanish multinational specialising in credit risk management solutions, confirms this: at financial institutions that use its Open Banking-based assessment processes, between 80% and 90% of applicants authorise temporary access to their banking data during the analysis of a financing operation.

"This isn't a one-off result. We see it consistently across different types of institutions and products. The issue usually isn't sharing the data, but not understanding why it's being requested", says Agustín Rodríguez, CEO of ubimia®.

One of users' main concerns has to do with security. However, Open Banking does not involve sharing digital banking access credentials. It is a system regulated under the European PSD2 directive that allows, for a limited time, authorised access to certain banking information. When the process is clear and the customer understands what they are authorising, trust increases and consent stops being seen as a risk.

For ubimia®, the other decisive factor is that the user perceives a clear benefit. If they know that sharing that information can translate into a faster response or better financing terms, consent stops being seen as an obstacle.

"Something similar happens with loyalty cards. People share their data when they perceive a clear benefit. The same is true when it comes to accessing credit", notes Rodríguez.

For financial institutions, this information provides a fuller picture of the applicant. It goes beyond the socio-employment profile information obtained through traditional approval processes based on documents such as payslips, and also reveals aspects such as income stability, regular expenses or real savings capacity.

"It will increasingly become standard for customers to authorise this access. The difference will no longer lie in having the data, but in turning that information into better risk decisions", concludes Rodríguez.

About ubimia®: a multinational company specialising in technology, data and artificial intelligence solutions for comprehensive credit lifecycle management. Present in 26 countries with more than 560 professionals, it combines software, advanced analytics and automation to improve the efficiency of credit processes at companies across multiple sectors.

More information and interview requests:

Ana Salvá I [email protected]