Portable accreditation solves open finance's duplication problem by having a third party verified once, independently, and carrying that verification into every relationship it has across the network – instead of being re-assessed from zero by each new counterparty. This converts duplicated bilateral effort into a single shared baseline every institution in the network can rely on.
To make accreditation genuinely portable rather than a one-time snapshot, three things need to be true:
- Assessment happens once, independently: A third party is assessed against defined financial, operational, security and Artificial Intelligence (AI) governance criteria by an independent party, rather than being assessed separately by every aggregator or bank it connects to.
- Verification carries across every relationship: Once accredited, a third party doesn't need to prove itself again to the next counterparty – the same accreditation applies across every relationship it has in the network.
- Reassessment keeps portability current: Because accreditation is reassessed on a regular cycle, portability reflects a third party's most recently verified status, not a one-time onboarding snapshot that goes stale the moment conditions change.
About Invela
Invela is the infrastructure layer that makes open finance trustworthy – accrediting who's in the network, monitoring risk in real time, and ensuring liability lands in the right place. Open finance, covered.
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