Money Advice Scotland is piloting open banking technology from Experian which could help them to significantly speed up the initial stages of debt advice.

The money charity’s new webchat service uses Experian’s open banking tool, the Affordability Passport, to gather crucial income and expenditure data, as well as a statement of consumer credit debts. It takes just minutes, as opposed to the weeks and months it can take to gather this information over several advice appointments.

The information is used to ensure that customers can quickly share their financial position, enabling Money Advice Scotland to offer the best support using trusted data. The partnership comes at the same time as the launch of the very first national webchat gateway into money advice, which aims to ease pressure on money advisers. It will seamlessly allow more people to receive expert debt advice.  Anyone with financial worries can speak to an adviser who will answer an any initial crisis questions and refer them to a regulated provider.

Experian’s Affordability Passport is a unique web-based technology which allows organisations to offer customers a secure platform through which they can share bank account transaction data. It delivers a clear and comprehensive picture of people’s income and expenditure.

Money Advice Scotland and Experian’s partnership is part of a pilot project due to run until March 2020 and can be accessed by visiting

Source:  Experian Press Release