The Rent Recognition service works by recognising the users rent payments using the Rent Finder, verifying this information alongside their tenancy details by using the Land Registry and Companies House database, then by reporting these details to Experian on a monthly basis, these payments contribute to the user's credit history.
Which of Bud’s services are used:
- Rent Finder APIs - Uses Natural Language Processing (NLP) and Bud’s regular payment API to detect and verify a user’s rent payments.
- Regular payment APIs - Automatic identification of recurring payments.
- Network APIs - Uses Bud’s network of partners to verify landlord information and report to credit reference agencies.