Obligo Wins "Open Banking Innovation Award" in 2024 FinTech Breakthrough Awards

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Mar 14, 2024, 13:00 ET

Annual Awards Recognize Outstanding Financial Technology Products and Companies Around the World

NEW YORK, March 14, 2024 /PRNewswire/ -- Obligo, the fintech company that powers the rental experience of the future and builds trust between renters and landlords through financial technology, has been selected as winner of the "Open Banking Innovation Award" in the 8th annual FinTech Breakthrough Awards program conducted by FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global FinTech market today.

Using open banking and AI, Obligo powers a trusted and streamlined rental experience that allows qualified renters to skip paying a security deposit, and instead use it to save, invest, or spend. Obligo provides landlords and property managers the ability to maintain full protection, lower their overhead, and offer an appealing amenity for renters. As the industry's deposit-free software partner of choice, Obligo can be easily embedded in property management and financial services software.

Obligo harnesses AI, machine learning, and historical lease outcome data to produce a simple, short and transparent renter qualification process. The simplest way to qualify is to connect a bank account via open banking. Obligo looks at several key metrics from the renter's bank account history to instantly determine if it meets the qualification criteria for deposit-free living. If a renter does not qualify by connecting their bank account, Obligo pinpoints the reason and offers alternate paths to qualification.

"Obligo's breakthrough deposit solution streamlines operations and improves the experience for both property managers and renters." said Steve Johansson, Managing Director, FinTech Breakthrough. "Obligo's open banking solution is the most effective and transparent deposit alternative on the market. We're thrilled to recognize Obligo as our 2024 'Open Banking Innovation Award' winner."

"Open banking technology is reshaping the rental experience of the future, enabling instantaneous renter qualification and secure payment processing," stated Roey Dor, CEO and Co-founder of Obligo. "We're honored by the recognition from FinTech Breakthrough for our contributions to this field. Our commitment to further investing in open banking technology underscores our dedication to our customers and the evolution of the rental industry."

About Obligo

Obligo's mission is to power the rental experience of the future and build trust between renters and landlords through financial technology. As the first security deposit alternative utilizing bank-issued Letters of Credit supported by Wells Fargo, Obligo uses open banking and AI to determine renters' eligibility to rent deposit-free. Founded in 2018 by brothers Roey Dor and Omri Dor, Obligo has raised more than $50 million and is looking to bring its industry-changing rental solutions to millions of homes across the United States.

About FinTech Breakthrough

Part of Tech Breakthrough, a leading market intelligence and recognition platform for technology innovation and leadership around the globe, the FinTech Breakthrough Awards program is devoted to honoring excellence in Financial Technologies and Services companies and products. The FinTech Breakthrough Awards provide public recognition for the achievements of FinTech companies and products in categories including Payments, Personal Finance, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and more. For more information visit FinTechBreakthrough.com.

Tech Breakthrough LLC does not endorse any vendor, product or service depicted in our recognition programs, and does not advise technology users to select only those vendors with award designations. Tech Breakthrough LLC recognition consists of the opinions of the Tech Breakthrough LLC organization and should not be construed as statements of fact. Tech Breakthrough LLC disclaims all warranties, expressed or implied, with respect to this recognition program, including any warranties of merchantability or fitness for a particular purpose.

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SOURCE Obligo