A groundbreaking new tool, Boshhh.io, designed to revolutionise affordability and risk assessment reporting within the financial services and legal sectors has been launched by Boshhh.
This innovative platform is set to provide organisations with detailed, accurate reports that significantly reduce processing costs while enhancing the reliability of consumer credit assessments.
Launched by the team who introduced the world’s first credit-building mobile network that allows users to improve their credit scores through regular on-time payments for their mobile phone contracts, the new tool builds on Boshhh’s commitment to addressing financial mis-selling and its impacts on consumer credit files and overall well-being.
Lewis Camilleri, Founder and CEO of Boshhh, said: “Boshhh.io represents a major step forward in supporting both consumers and the industry. The new tool not only helps in identifying financial mis-selling but also offers a more affordable and efficient way for organisations to conduct affordability and risk assessments.”
Boshhh.io leverages an exclusive partnership with Yapily, a leader in open banking, and works alongside top specialist litigation firms in the UK. This collaboration has enabled Boshhh to develop a fully automated system that can identify up to 16 different claim types for each customer in just a matter of seconds, making it a game-changer in the field of financial reporting.
Yapily’s product Data Plus+ allows Boshhh to build comprehensive financial reports using its enhanced categorisation. These reports can be used by a claims management firm to help individuals prove they have mis-sold a range of financial products. The reports support claims at all stages and are issued to the financial ombudsman where required to aid the claim.
Stefano Vaccino, CEO and Founder at Yapily, added: “Creating better, fairer financial services is not always about improvements at the point of use. It’s also about giving individuals and helpful third parties like Boshhh easy access to data which empowers them to challenge injustices. We’re very excited about this partnership and will be with Boshhh every step of the way on their mission to build brighter financial futures”.
Recognising the financial pressures faced by law firms, particularly those dealing with claims, Boshhh.io has been designed with cost-efficiency in mind. Feedback from law firms that have tested the tool highlights remarkable cost savings, making it an invaluable resource for the industry.
In addition to its benefits for legal firms, Boshhh.io is poised to make a significant impact in the wider financial services sector. The tool provides lenders with reliable affordability reports, creating more valuable insights into consumer spending habits and affordability, setting a new standard for risk assessment in the industry.
Lewis added: “The launch of Boshhh.io is a key part of our five-year plan to advance financial reporting tools while keeping costs low for its clients. By combining advanced technology with strategic partnerships, we are leading the way in providing innovative solutions that benefit both consumers and financial institutions.”
For more information, please visit www.boshhh.io
Jesse Pitts has been with the Global Banking & Finance Review since 2016, serving in various capacities, including Graphic Designer, Content Publisher, and Editorial Assistant. As the sole graphic designer for the company, Jesse plays a crucial role in shaping the visual identity of Global Banking & Finance Review. Additionally, Jesse manages the publishing of content across multiple platforms, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.