Open Banking
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 securely share it with organisations you trust.
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.
New choice, enhanced security
Open Banking can be considered another sort of online banking transaction with the same security as checking your balance. When your data is securely forwarded to us, we will be at your side every step of the way.
Providing consent for Open Banking will provide us with access to your bank data so we can confirm previous rental payment history and employment income, in order to accurately provide your reference.
How do I use Open Banking?
Simply select the Open Banking option when completing your tenant link through the Let Alliance system and we will do the rest.
Once you have agreed to Open Banking you'll be redirected to 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.
Why should I use Open Banking?
- With your permission to use Open Banking we can verify your financial details and complete your reference at the click of a button
- The information you provide is safe, secure and managed by you
- The decision is based on the information you authorise our partner TransUnion to provide us
- With the majority of references completed within 24 hours, the move in process becomes much faster