How SOLO Works
In Action: The Collaborative Customer Data Sharing Network Enables Open Banking 2.0
Oct 20, 2025
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1 min read
SOLO is the first collaborative data sharing network that enables true open banking by making customer data portable across institutions and fintechs with governance, delivered seamlessly into workflows like onboarding, compliance, and underwriting.
For banks, fintechs, and partners in our network, SOLO enables:
Pre-filled customer onboarding with verified data from the network.
Fraud prevention using lineage-traceable, source-of-truth data from fintechs and banks. FCRA compliant, SOLO enables immediate adverse action on confirmed fraud.
Open Banking 2.0 with data governance that creates transparent compensation.
How SOLO’s collaborative data sharing network works in practice:
01 Workflow
Workflows, configured for account opening, loan origination and fraud prevention tell SOLO what to look for.
Each institution’s workflows are automatically triggered and fully editable for use cases like account opening, loan origination, fraud prevention, servicing, etc.
02 Resolution
SOLO generates a resolution checklist to identify what data is needed to successfully run the workflow.
The checklist looks for data in-network vs. what’s missing for the workflow.
03 SOLO SDK
Network memory pre-fills SOLO SDK with all existing customer data and enables one click customer sharing.
04 Customer UX
SOLO SDK initiates the customer experience: a one-click consent to share and re-use network data within the workflow.
Missing information is resolved in a frictionless experience, collecting net new data.
06 Publish
New data is published with its lineage for re-use by the network.
Lineage attributes data collection to its originators, and preserves how it was collected, when, and for what purpose.
Originators are compensated when data is reused in workflows by other network participants, at the request of the customer.
Network Effects
SOLO's network enables a version of open banking where banks & fintechs get paid to collaborate, ending duplicate work and re-introductions.
What It Means for Banks and Fintechs
Collaboration That Pays
SOLO flips the industry’s incentive model. Instead of re-paying for third party data aggregated from their own and similar institutions, banks and fintechs re-allocate costs to compensate originators.
In turn, every new verified attribute they contribute or update becomes a data asset in the network, transforming data collection from cost center to revenue driver.
Pre-Filled Onboarding
Skip redundant steps and reuse existing network data with customer consent — reducing manual intake, cutting time-to-decision, and lowering operational costs.
Data Sharing with Governance
Each transaction is lineage-based and traceable back to its verified source, enabling explainable decisions and FCRA-compliant data usage by design.
What It Means for Customers
One-Click Onboarding Experiences
Consumers and small business owners no longer have to re-enter the same information across multiple applications and financial relationships. SOLO pre-fills what’s already verified, securely and transparently.
Compliant Consent, Real Control
Data sharing is explicit, one-click, and permissioned for each use case — giving customers control and ownership over how their data moves.
Financial Access
Because institutions get paid for furnishing data responsibly, everyone is incentivized to help the customer — creating a new model for building innovative and accessible financial services.
