Digitize credit application

Without IT integration thanks to KreditCheck and LoanValidator

On the basis of Open Banking, many standard banking processes can be made paperless and automated, such as credit application processes, credit worthiness checks and even credit decisions. The results include lower error rates and less manual effort. Nevertheless, some banks are hesitant to implement open banking solutions. The reasons for this are usually fear of high initial investments and cost-intensive implementations in the back-end system.

For this reason, finAPI has developed the KreditCheck, a modular, web-based platform designed as a zero-integration solution. With KreditCheck, the lending workflow can be digitized completely or just in specific parts – depending on the customer’s individual requirements.

No technical integration into the existing IT system landscape is required, as the application runs via a fixed URL. This means it can be easily integrated into the bank’s website or app – including the user interface in the bank’s own look and feel. A useful addition to the KreditCheck is the ‘LoanValidator’. This automatically matches the loan agreements identified during the account check with the reported Schufa loans.

"The LoanValidator was developed in cooperation with the SCHUFA and is absolutely unique on the market. For example, if more loans are found in the SCHUFA data than have been identified on the account, banks can ask customers to include additional accounts in the process."
Sven Wackermann finAPI
Sven Wackermann
Head of Product Management at finAPI

Advantages of KreditCheck and LoanValidator at a glance:

You would like to learn more to learn more about the digitization of your credit application process? Contact us.

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