Wych and MogoPlus.ai join forces to deliver screen-scraping “killer”.
The partnership delivers a compliant, AI-powered alternative as regulatory scrutiny intensifies on legacy data access methods.
Mogo Plus CEO, Mike Page and Wych Country Manager - Australia (and Head of Sales - Mogo), Ben Ford.
Open Banking infrastructure provider Wych has partnered with AI-powered lending insights platform MogoPlus.ai to deliver the industry's first fully integrated data and decisioning solution for consumer lending.
The joint solution will solve critical compliance, efficiency, and risk challenges non-bank lenders and Tier 1 banks are facing, amid mounting pressure from regulators over screen scraping practices and tightening responsible lending obligations.
It will also offer innovative Fintechs an end-to-end Open Banking-powered ‘data + insights’ offering.
The Cost of Fragmented Data Infrastructure
Currently, most lenders rely on either legacy screen scraping technology or must integrate multiple disparate platforms to assemble adequate data for affordability assessments.
This fragmented approach creates significant business impacts:
Processing delays: Manual data aggregation from multiple sources extends loan approval timeframes by days or weeks
Compliance exposure: Screen scraping violates emerging regulatory frameworks and exposes institutions to enforcement action
Operational inefficiency: Data reconciliation across platforms increases operational costs by up to 40%
Credit risk: Incomplete or inaccurate data leads to poor lending decisions and increased default rates
Customer friction: Multi-step authentication processes result in application abandonment rates exceeding 30%
Single Platform, Complete Solution
The Wych-MogoPlus integration eliminates these challenges by combining Wych's secure, fully consented Open Banking data access with MogoPlus's AI-powered decisioning analytics suite on a single platform.
The solution instantly categorizes and enriches transaction data to deliver comprehensive affordability reports, reducing loan processing time by up to 80% while ensuring full regulatory compliance.
"The regulatory environment is shifting decisively away from screen scraping, but many lenders have been hesitant to transition because Open Banking providers historically haven't offered the data enrichment and insights capabilities they need," said Ben Ford, Country Manager - Australia, Wych.
"This partnership solves that problem. We're delivering best-in-class data access and AI-powered insights in a single, compliant solution.
AI-Driven Insights, Compliance-Ready Architecture
The integrated platform leverages advanced AI to analyse income and expenditure patterns, providing lenders with:
Automated affordability assessments with audit-ready documentation
Real-time risk indicators and anomaly detection
Comprehensive transaction categorisation and enrichment
Embedded compliance controls aligned with evolving regulatory requirements
Seamless API integration with existing lending platforms
"For Chief Data and Compliance Officers navigating upcoming regulatory obligations, this partnership represents a strategic opportunity to future-proof their data infrastructure while simultaneously driving revenue growth through faster, more accurate lending decisions," Ford added.
“The transition to Open Banking isn't just about compliance. It's about competitive advantage. Is this the screen-scraping “killer” that we’ve been waiting for? It’s hard to say, but I’m excited to find out.”
Market Validation
The partnership has already onboarded its first three clients, with a robust pipeline of Tier 1 banks and innovative fintech lenders in advanced discussions.
About Wych
Wych is an accredited Open Banking infrastructure provider, enabling secure, consumer-consented access to financial data.
Wych's platform serves lenders, fintechs, and financial institutions across markets, delivering compliant data access solutions that power better financial outcomes.
About MogoPlus.ai
MogoPlus.ai specializes in AI-powered data enrichment and lending insights, transforming raw financial data into actionable intelligence.
The company's decisioning analytics suite provides instant affordability analysis, helping lenders make faster, more accurate credit decisions while maintaining regulatory compliance.
