Affordability Assessment

Affordability assessments have become an essential part of financial services in the last five years, particularly credit and lending.  The Financial Conduct Authority expects firms to understand a customer’s financial circumstances, their income, credit commitments, priority bills and discretionary spend.

Pain points within affordability assessments

It sounds like a simple concept – Take the cost of mortgage or rental payments, utilities, motor and groceries from monthly income gives a customer’s disposable income.

Unfortunately, people’s lives are not that simple.  Weekly paid customers, shared incomes, customers with benefits, self-employed customers, informal payments for rent, part time work, seasonal work are just some examples of why calculating a customer’s regular income is complex.

Expenditure is even harder and requires an understanding of the customer’s personal situation.

Open Banking and other data services help, but they don’t solve the problem.  ‘One size fits all’ forms are inadequate to understand the very specific life circumstances of customers.  The only way to truly understand a customer’s income and expenditure is to engage with the customer, personally.

A personalised customer assessment tool

PrinSIX allows our clients to create dynamic, personalised experiences that explore their individual circumstances, in detail, through a digital experience that doesn’t put a barrier within new customer onboarding.

The Objectives

Customer objectives

Providing Income and Expenditure data easily and sensitively.

Commercial objectives

Minimise the friction that affordability puts on the customer experience.

Risk & Compliance objectives

Understand customers’ circumstances to ensure they are served with products appropriate to their circumstances and deliver good customer outcomes.

Operations objectives

Only speak to customers when it is their preference.

The PrinSIX solution

The PrinSIX  Orchestrates income and expenditure journeys that meet the needs of every customer, through every channel.

Deploy Open Banking integrations to get the deepest insight into customers’ financial circumstances.

    Provide intuitive self-declaration journeys for customers who reject Open Banking.

    Categorise using the Standard Financial Statements, tailored to customer and product risk.

    Validate expenditure based on customer circumstances using analytical models built on ONS or other insight.

    Calculate disposable incomes based on each customer’s financial and personal circumstances

    PrinSIX helps our clients maximise their understanding of customers’ financial position, while minimising customer friction.


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    Our clients understand their customers. The PrinSIX team understand digital orchestration. Our collaborative approach combines both to realise the true digital potential that exists in our clients’ businesses.