Quota partners Nordigen – ThePaypers

Quota partners Nordigen – ThePaypers

Quota has partnered with Nordigen to tap into its Open Banking network, improving their client screening and scoring mechanism.

 

Quota has partnered with Nordigen to tap into its Open Banking network, improving their client screening and scoring mechanism.

 

Spain-based Quota is a property management company focused on bringing transparency, protection, and speed to the rental process. They do this by simplifying agent screening procedures, removing the initial high deposit fees for tenants, and providing protection and security to the landlord with rent-guarantee. Two of the solutions they offer are QuotaScore and QuotaProtect. QuotaScore is a digital certificate for tenants which gathers and verifies their financial information, increasing their credibility and offering landlords data transparency and improved security. QuotaProtect guarantees two layers of protection through a three-month rent guarantee and by providing insurance to the property, eliminating the need for a cash deposit system, as stated in Nordigen’s official press release.

Together, these solutions allow tenants to reduce their financial barriers by offering additional information and alternative guarantees. Landlords can rent their homes with more protection, and real estate professionals save time by screening tenants faster. The Nordigen integration allows renters to share their banking information and it improves Quotas’ screening and scoring services, the press release continues.

Quota declared that it is using Nordigen’s Open Banking tools to improve the information the company has about tenants, including some of their financial insights. With a wide bank coverage in Spain and Europe, close to 95%, most clients can select Open Banking as their preferred method to validate their information, and thus Quota gains access to this detailed source of data, which it plans to use to further improve its models and scoring algorithms. The API calls were reportedly quickly adopted by the company’s tech team to extract the data from tenants, with clear and detailed documentation. Thanks to the regular updates implemented by Nordigen, Quota can gain access to new banks and improvements continuously. 

Nordigen believes that Quota’s service makes renting easier for landlords and agents while removing financial barriers for tenants. Open Banking provides opportunities to democratise finance and the company can help Quota improve their service. 

About Nordigen and Quota

Nordigen is a freemium Open Banking platform that provides free access to Open Banking data and data insights. Nordigen’s free API connects to more than 2,300 banks in Europe and serves fintech companies and developers in 31 European countries, including the UK. Nordigen is a licensed Account Information Service Provider (AISP), regulated by the Financial and Capital Market Commission of Latvia and authorised in 31 European countries.

Rental management company Quota is based in Madrid, Spain. They provide solutions for landlords, tenants, and agents. The services they offer include QuotaScore and QuotaProtect. QuotaScore ensures the accuracy of a tenant’s information and includes a maximum recommended rent amount. QuotaProtect guarantees two layers of protection, guaranteeing 3 months of rent and insuring the landlord against missed payments and damage.

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