10004498Renter-focused Open Banking Risk-profiling Model Using Big Data and Machine Learning, improving Credit Scores and a 10–20% Reduction in the Poverty PremiumClosedCollaborative R&DInnovate UKInsureStreet Limited (Canopy), with a core team of Tahir Farooqui, Matt Hobbs, Jon Holloway and Lee Power, is a UK fintech SME revolutionising risk assessment modelling for the rental industry. Through the expansion of an open banking-based risk-profiling model, Canopy will allow renters, letting agents and financial institutions to fairly and accurately predict affordability and risk levels, simplifying the process and increasing financial stability for those most vulnerable. During months 1--3, Canopy's proprietary data-driven risk rating model powered by open banking data will be built. At month 3, the beta product will be launched and immediately start ensuring that there are increased tenancies for renters impacted by COVID-19\. This will ultimately reduce homelessness and welfare dependency. During months 3--9, the beta product will be iterated on during the remainder of the project. At month 6, Renters will achieve greater visibility to the financial services sector and as such, improved access to financial products that fit into stretched budgets. This will lead to lower rent arrears in the private sector and less pressure on social housing supply. By month 12 and 18, the project will have delivered its proposition. The impact will be improved accessibility to housing and a reduction to the poverty premium.