Total debt

Total debt

Use case - refinancing to reduce monthly commitments

With less cash available each month, it can be tempting for customers to use ‘buy now, pay later’, dip into their overdraft or utilise their credit cards more than usual. Combined with existing loan payments, these debts can soon add up.

Bring awareness of total debt upfront and personal with added clear actions on what steps can be taken to get on top of it.

Total debt examples

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APIs used

List accounts:
GET v1/open-banking/accounts (List accounts endpoint)

Debt collection transactions:
GET v1/debt-collection Debt collection transactions endpoint

Financial products (loans):
GET v1/products (Financial products endpoints)

Retrieve category totals:
GET v1/categories/totals (Category totals endpoint)

Tip: combine loan data with your affordability score to pre-approve refinanced loan applications.

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