Finexer & Rentr Success Story
Introduction
In a property market where landlords, tenants and contractors expect more of their letting journey to happen online, Rentr is bringing the key stages of that experience together through its online app.
Rentr supports landlords, tenants and contractors across their property journey, with a focus on making the interactions between them easier to manage digitally.
To support that vision, Rentr partnered with Finexer for Open Banking capabilities that bring real-time banking data and Pay by Bank into its property experience.
"Product, price and people made us choose Finexer as our Open Banking partner."
Deepak Chandrababu, Chief Operating Officer, Rentr
About Rentr App
Rentr is an online app designed around the needs of landlords, tenants and contractors. Its customer base sits at the heart of the property journey, where financial checks and payments are central to successful lettings.
By connecting its property experience with Finexer, Rentr can bring banking capabilities closer to the moments when customers need them.
These include tenant affordability checks using real-time banking data and rent collection through Pay by Bank, with payments settling via Faster Payments.
"From early commercial discussions to implementation, the team was always at hand to help and support."
Deepak Chandrababu, Chief Operating Officer, Rentr
Why Rentr Chose Finexer
Rentr’s search for an Open Banking partner was about more than technical capability. The commercial relationship and the people behind the service were equally important.
For Rentr, AIS is useful in these forms:
- Income verification: Access to consented bank transaction data helped Rentr verify a tenant’s income from their banking activity.
- Account and balance checks: Rentr could access account details and balance data to support affordability-related checks.
- Transaction history: Real-time transaction data provided visibility into incoming and outgoing payments, rather than relying on manually supplied bank statements.
- Structured banking data: The data was delivered through Finexer’s API in a structured format, allowing Rentr to incorporate it directly into its property management workflow.
Here's how PIS specifically served Rentr's rent collection use case:
- Rent collection: Tenants pay rent directly from their bank account via Finexer's Pay by Bank, replacing manual BACS transfers or cheques.
- Settlement speed: Payments clear instantly via Faster Payments, instead of the one to three working days a BACS transfer or card settlement can take.
- Payment confirmation: Rentr's team sees confirmed funds in real time instead of checking a bank statement by hand.
- Reduced payment risk: Because the payment is bank-authorised rather than card-based, it carries no chargeback exposure.
- Single integration: Rentr connects once to Finexer's PIS infrastructure and reaches almost all major UK banks, rather than building and maintaining bank-by-bank connections itself.
Key reasons Rentr selected Finexer:
- Product: Banking data and Pay by Bank capabilities suited to Rentr’s property journey.
- Price: A commercial model that gave Rentr a better fit for its business.
- People: A Finexer team that remained available from early discussions through implementation.
"We got a better Commercial model and faster turnaround time."
Deepak Chandrababu, Chief Operating Officer, Rentr
Challenges Before Finexer
Before working with Finexer, Rentr needed to address the banking requirements that sit behind a digital property experience.
- Manual financial checks: Tenant affordability checks can depend on bank statements and other financial documents, creating additional work within the letting journey.
- Banking infrastructure: Rentr did not want to build the regulatory and banking connectivity required to provide these capabilities itself.
Finexer addresses these requirements through FCA-authorised Open Banking infrastructure. Its Data service provides real-time banking data for affordability checks, while its Payments service supports rent collection through Pay by Bank.
"The ease of implementation and use is excellent."
Deepak Chandrababu, Chief Operating Officer, Rentr
How Finexer Transformed the Journey
Finexer gave Rentr access to banking capabilities that fit directly into its property application:
- Tenant affordability checks: Rentr can use consented real-time banking data to support financial checks rather than relying only on manual statement reviews.
- Rent collection: Tenants can pay directly from their bank account through Pay by Bank, with payments settling via Faster Payments.
- UK banking connectivity: Finexer provides access across almost all major UK banks, including high-street, challenger and business accounts.
Rentr’s overall experience security is really good, performance exceeds expectations, pricing is reasonable and visual appeal, ease of implementation and support from Finexer’s team reflect the quality of the service surrounding the technology, earning Finexer high praise from Rentr.
"The visual appeal, security, performance and pricing are very good."
Deepak Chandrababu, Chief Operating Officer, Rentr
Why the Partnership Works
The Finexer-Rentr relationship works because the partnership addresses both the technical and commercial sides of Rentr’s requirements.
- Product fit: Finexer provides the banking data and payment capabilities Rentr needs for its property workflows.
- Responsive support: Rentr received support from the early commercial discussions through implementation.
- Commercial fit: Rentr achieved a better commercial model and faster turnaround time while working with Finexer.
Finexer’s FCA authorisation under the Payment Services Regulations 2017, FRN 925695, provides the regulatory foundation for its account information and payment initiation services.
"Support and working with Finexer’s team is excellent."
Deepak Chandrababu, Chief Operating Officer, Rentr
Looking Ahead
As Rentr grows, the partnership is expected to develop alongside the business.
The next stage can build on the banking capabilities already supporting Rentr’s property journey, from financial information during tenant onboarding to payments during the tenancy.
For Rentr, that means continuing to focus on its customers while Finexer provides the Open Banking infrastructure behind these financial interactions.
"As we scale we anticipate both companies to grow hand in hand."
Deepak Chandrababu, Chief Operating Officer, Rentr
Conclusion
The partnership between Rentr and Finexer demonstrates how Open Banking can support a digital property journey where financial information and payments form an important part of the customer experience.
Rentr brings landlords, tenants and contractors together through its online app, while Finexer provides the banking connectivity behind tenant affordability checks and rent collection.
Together, the companies are building on a relationship founded on product fit, commercial value and responsive support, with both businesses looking towards continued growth.
"Finexer has been very likely to be recommended to other businesses."
Deepak Chandrababu, Chief Operating Officer, Rentr
Discover how Finexer can support your PropTech business. Its FCA-authorised Open Banking infrastructure supports real-time banking data and Pay by Bank.
Talk to Finexer’s team
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