At Two, we know that requests for higher credit limits can come from anywhere at any time. But increasing your customers' credit limit is easier said than done. Sometimes there’s not enough financial data to make the best decision possible. That’s why today, Two is excited to announce a brand new feature, designed to offer your customers the credit limits they need to make the purchases they want: Credit Builder!
What is Credit Builder?
Credit Builder is a new feature that leverages Open Banking data to get a better picture of your customers’ financial capacity. Using this data - combined with our existing credit and fraud engines - allows us to provide your customers with even higher credit limits. This means they can purchase larger orders, helping to increase your B2B sales!
How does Credit Builder work?
Credit Builder was designed to be used by your customers for complete control. Let’s take a look at how you can start using Credit Builder:
1. Your customer gets in touch to request a higher credit limit. Share the following link with your customer.
This directs them to a simple flow that allows them to submit additional banking data. They’ll first be asked to enter their company name.
2. Then they’ll be asked to select their business bank account and asked to log in by scanning the provided QR code. This process is handled by our business partner Yapily and is 100% secure.
3. Once logged in, your customer will be redirected back to the Credit Builder page and Two will review the submitted banking data.
4. Finally, your customer will be informed that their credit limit has been increased!
Additionally, if you’d like to be informed about the outcome of this decision, you can simply subscribe to our credit limit webhook here. This will allow you to see the credit limit updates for all your customers. Check out the video below by Two's Head of Product Experience and Design Greg Stait to see Credit Builder in action.
If you have any questions about this update, feel free to get in touch with us at support@two.inc or book a demo here!