Fun fact: the Dutch are not big fans of credit loans, and do not have a specific credit scoring system in place. Securing a loan in the country is based largely on current income and the amount of already accumulated debt. Have a look below to see what options are available when it comes to sharing credit data in the Netherlands.
National Credit Register (BKR) is the main credit agency in the Netherlands, keeping an electronic file on every single person who has taken any loans or credit out in the country. It’s main function is to protect organisations from borrowers who can’t repay their loans. While they hold and share information on loans, they do not make the credit decisions, instead sharing the data with the businesses directly. The businesses can then determine creditworthiness based on existing loans. It is vital to pay for credit data when obtaining it from BKR, even if the information relates to you.
Experian is a global credit bureau with a presence in the Netherlands. Experian Connect, the organization's API, allows credit information to be shared. Through the API, public records and transaction history are shared to evaluate a customer’s financial profile and deem creditworthiness. Exact pricing for these services may be determined through communication with the sales staff.
Tink has been live in the Netherlands since 2019. Their API offering allows customers' transactional data to be accessed, and customer account verification processes to be initiated. They link to European banks and financial institutions to collect PSD2 and non-PSD2 data. The service is based on a per-user fee.
Aiia, a licensed PISP and AISP, has been acquired by Mastercard in 2021. This move has allowed Mastercard to use their connectivity with Aiia, to deliver credit decisioning and credit scoring to European clients. This is done with applications created by another Mastercard company, Finicity. Finicity is an open banking platform that facilitates sharing client financial information to developed applications, using this data to inform credit decisions and other processes. Pricing for Aiia can be sourced from their sales team.
Yapily has only recently entered the market in this country, in November 2021. This decision was fueled by the growth of the fintech sector and start-up culture in the Netherlands and Amsterdam, specifically. Their API facilitates the process of sharing financial information. Financial data exchange enables credit data checks and creditworthiness assessments to be completed more quickly. Yapily’s platform is a paid-for product.
Plaid has a presence in the Netherlands with their own open banking platform. Their API solution facilitates loan decision-making through a variety of products and services. These include verifying borrowers identities, assets, accounts, income and employment. Their API solution can be set up for a fee.
TrueLayer is another open banking platform on our list. They feature a data API for exchanging account and transaction information, as well as a verification API for confirming account ownership and details. The data API provides information on lenders to assist in making faster loan decisions, while the verification API reduces the risk of fraud. Truelayer’s platform can be accessed through a fee.
Nordigen uses official PSD2-compliant APIs to provide free access to bank data and premium data insights. We're an AISP with access to official bank APIs all around Europe. Our clients can utilise the platform to verify customer income, conduct affordability checks, get credit bureau ratings, all to lower credit risk. Our data sharing API is absolutely free with unlimited use.
ShuftiPro’s verification API performs identification checks on consumers in accordance with AML and KYC rules. Identity cards, national passports, driver's licenses, and credit/debit cards are all checked by the software. Face verification, address verification, document verification, and other services are included in the service to guarantee that the risk of fraud in the financial and credit markets are as minimal as possible. Pricing can be determined based on requirements.
Jumio uses AI, biometrics and other innovative technologies to facilitate and streamline identity verification processes for their clients. Identity checks are performed quickly, helping simplify the process of remote onboarding, while complying with AML and KYC regulations. Sales information needs to be requested on the company website.
Veriff is an identity verification firm based in Estonia. Their AI-powered technology helps with document authentication in real time, which helps fight fraud. The software can quickly detect fake and fraudulent IDs, collect data, and use an API to cross-reference it with other sources, while following AML and KYC regulations. The sales department needs to be contacted for pricing information.
Open banking credit APIs in other countries: