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Open Banking: A secure new way to share your data

Let Alliance are changing the way tenant referencing is transacted for tenants in the UK through Open Banking. Open Banking is a change to the UK banking industry, designed to give you control over your data by allowing you to share your financial information electronically and in a secure environment.

At Let Alliance, we’re making the switch to allow you to better control your referencing process and for the majority of cases, have your reference processed within 24 hours with no need to chase your employer or landlord as we’ll have a clearer view on your previous rental payments and income history. Find out more about Same Day Referencing.

New choice, enhanced security

Your financial data belongs to you and Open Banking, through our partner TransUnion International UK Ltd is designed to help make the process of sharing your financial information quicker to speed up the referencing process.

Open Banking can be considered another sort of online banking transaction with the same security as for example checking your balance. When your data is securely forwarded to Let Alliance, we’ll be at your side every step of the way.

Providing consent for Open Banking will allow TransUnion to provide us with access to your previous rental payment history and employment income. We will only have access to this type of data as it will be used to verify your income and outgoings, in order to accurately provide your reference.

 

The Open Banking process

How do I use Open Banking?

Simply select the Open Banking option when completing your tenant link through the Let Alliance system and we’ll do the rest.

Once you have agreed to Open Banking you’ll be redirected to our partner TransUnion who will access your online bank and send us a 12-month snapshot of your finances. At this stage please ensure that you select the account your salary is paid into and rental payments made from, as appropriate. By selecting Open Banking you do not need to upload copies of your bank statements and payslips. No more having to provide endless paperwork or employer/landlord references as we’ll have a clear view of your finances relating only to your rental payment history. Agreeing to Open Banking means we can deliver your completed reference much faster, with the process usually complete within a matter of minutes.

Active Banks:

Why should I use Open Banking?

No need to provide us with endless documents

With your permission to use Open Banking we can verify your financial details and complete your reference at the click of a button

 

Secure & safe

The information you provide is safe, secure and managed by you

 

No more waiting for employer and landlord references

The decision is based on the information you authorise our partner TransUnion to provide us

 

Move in faster

With the majority of references completed within 24 hours, the move in process becomes much faster

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Important Information For All Customers

We have closed our Chester office in line with the Government’s advice with immediate effect (24/03/2020). We are doing everything possible to keep our business fully operational for you. Members of our team are able to work from home and we are able to maintain our operating platform and business systems for you.

Contact details for all of our teams can be found here and our Vision platform is fully operational and accessible here.

It might take us a little longer than usual to respond to calls and emails, however we will not stop at anything to find a way to help and support your business. We are with you every step of the way at this incredibly difficult time for everyone.

Please look after yourselves and your families. We will get through this together and we will be stronger on the other side.

Stay healthy, stay strong and stay positive. The one thing that should never shock us is the amazing spirit and resilience of people.

Andy Halstead
Chief Executive
Let Alliance