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The partnership is aimed at moving LoanScore beyond a one-off comparison tool, with permissioned banking data allowing UNO to monitor a borrower’s loan as their circumstances and the market change.
Fiskil provides the banking connectivity that allows UNO to securely access the financial data needed to support the service.
UNO chief executive Vincent Turner said the partnership was designed to address a problem borrowers faced before they even considered refinancing.
“People were focused on saying refi, refi, refi, and the question the customer was asking was: ‘I don’t even know if I have a good loan or not.’”
Rather than starting with refinancing, Turner said the focus was on helping borrowers understand whether their existing loan remained competitive.
From comparison to continuous monitoring
LoanScore was originally built to give borrowers a view of how their existing home loan compared with the broader market.
However, the quality of the comparison was dependent on the information a customer entered at the time.
The integration of open banking allows UNO to combine its home loan pricing and product information with permissioned banking data, turning LoanScore from a point-in-time comparison into an ongoing monitoring tool.
“The relaunch of LoanScore was about getting it live not just as a one-off tool, but as a tool that deeply integrated with the loans that you had … and could actually provide that ongoing monitoring that honestly was only really possible using Open Banking.”
Customers can still begin by entering a small amount of information to generate an initial LoanScore, while connecting their accounts provides more detailed information.
“Where it gets really interesting is not the self-reported data, it’s when you add open banking.”
According to Turner, this is where the service moves beyond simply providing a score.
“That’s the real win because it’s not just a LoanScore now, but it also means we continuously monitor it.”
This approach means borrowers do not necessarily have to wait for a rate rise, fixed-rate expiry or another trigger before reassessing their mortgage.
Instead, LoanScore can continue monitoring the loan and help identify when it may be worth considering whether a different option is available.
Building the technology
UNO said it needed an open banking partner that could support the pace of development of the LoanScore product.
Through the partnership with Fiskil, UNO’s engineering team was able to begin building while its Consumer Data Right (CDR) requirements progressed in parallel, reaching a working product in its own environment in under two weeks.
Turner said the speed of development allowed the business to focus more closely on the customer experience and how connected data could improve the product.
“The sooner you can get the thing that actually does what you think will solve the client’s problem into the hands of the client to see that, the better.”
Open banking gains traction
The Consumer Data Right, which underpinned this partnership as well as open banking as a whole, has been gaining ground in recent months.
NextGen, which owns open banking provider Frollo and its broker-focused solution Frollo for Brokers, said almost 120,000 consumers shared their financial data with mortgage brokers through its platform during the last financial year, with open banking now used in close to one in 10 broker-originated home loan applications.
The technology provider also said applications supported by open banking data are approved an average of 11 per cent faster than those submitted through traditional processes.
For refinance applications, approval times improved by up to 21 per cent, while some major lenders have reported assessment times falling by as much as 49 per cent.
Non-bank lenders officially launched into CDR regime on 13 July 2026, with tens of non-bank lenders publishing residential mortgage Product Reference Data in the first month.
There has, however, been a contrast between total market participation and usable product intelligence – as it did with the bank rollout – with missing data fields plaguing the initial rollout.
Earlier this month, a new partnership was struck between credit bureau Equifax and fintech Occubuy that will use open banking data to strengthen renters’ home loan applications.
Meanwhile, Beyond Bank became the first branch-based lender to extend open banking from the broker channel into its first-party lending experience.
Now, as financial fraud hits the headlines once more, major banks, as well as banking associations and a Senate select committee, have called for the inclusion of Australian Tax Office data in the Consumer Data Right to help fight fraudulent loan applications.
[Related: How open banking could rewire broker-client relationships]
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