Atto

The firm's core business revolves around its global credit and risk platform, which uses real-time, consumer-permissioned bank transaction data to generate predictive models and financial insights for lenders. This service caters to businesses in sectors such as banking, automotive finance, and B2B/B2C lending, helping them with affordability assessments, income verification, and fraud reduction throughout the entire credit lifecycle, from onboarding to collections. Regulated by the Financial Conduct Authority (FCA) as an AISP, Atto facilitates the secure sharing of up to 12 months of read-only transaction data between a consumer and a business, with explicit user consent. Revenue is generated by providing these data-driven services to businesses to enhance their credit risk management.

Atto's platform provides an alternative to traditional credit assessment methods by analyzing real-time spending, saving, and earning behaviors. Its services include a transaction categorization engine, income verification, bank account verification, and affordability assessments. By leveraging an API with over 13,000 bank connections across more than 80 countries, the platform offers lenders a more precise and current view of a customer's financial health. This approach enables quicker, more informed lending decisions and helps to make credit more accessible for individuals who may be underserved by conventional scoring systems. In a significant partnership, Atto collaborated with FICO in April 2024 to develop a transaction-based score that integrates open banking data directly into the credit scoring process for UK lenders.