The results are consistent with previous research in which Frollo compared its CDR-based Financial Passport’s transaction classification accuracy with that of its screen-scraping-based competitors. The study also found that CDR provided significantly better results than screen scraping.
Open Banking: The Path to Financial Innovation
“High-quality data is the cornerstone of accurate financial insights,” said Simon Docherty, Chief Customer Officer at Frollo. For use cases such as lending and money management, open banking provides clean, comprehensive data essential for responsible credit decisions and personalized financial products. This helps organizations deliver superior customer experiences, save time, and manage risk more effectively.”