Don't let late payments spoil good customer relationships
finAPI DebitFlex reconciles companies' receivables management with consumers' individual needs
With its new DebitFlex service, finAPI helps consumers who have fallen into arrears. The BaFin-licensed open banking provider analyzes consumers’ data and suggests manageable and realistic ways of meeting payments. Use of this service must first be explicitly approved by the account holder and is voluntary.
“With DebitFlex we bring together the consumer’s individual financial situation with companies’ needs for payments to be made with minimum hassle,” explains Martin Lacher, CEO of finAPI.
finAPI DebitFlex means efficient, customer-oriented receivables management. The process is based on the second payment services directive (PSD2), and enables consumers to adapt payment methods to their individual needs and current financial situation. finAPI DebitFlex can help consumers to prevent debts from mounting and avoid unnecessary fees and interest.
DebitFlex is uncomplicated and fast. With the consumer’s approval finAPI carries out a one-off account analysis. The account data is used to determine which payment options are best suited to the customer: immediate payment, deferred payment or an individually calculated installment payment. finAPI only processes the data that is strictly necessary. The result of the check is transmitted to the creditor, but account details are not passed on.
“If companies use finAPI DebitFlex before a first reminder, their customers benefit from a service that helps to protect them from any financial disadvantages, and companies benefit from increased customer loyalty,” explains Martin Lacher. “The goal of DebitFlex is to find an uncomplicated and viable solution for consumers and companies that is good for both sides.” finAPI DebitFlex automates processes that are otherwise carried out manually, minimizing costs and reducing open receivables.
finAPI GmbH is one of the leading providers of intelligent banking APIs in Germany, and is licensed by BaFin as an account information and payment initiation service. The Munich-based company has been developing and implementing sophisticated software solutions for aggregating and analyzing financial data since 2008.
Our focus is on open banking, data intelligence, KYC, payment and PSD2 services. Together with our business partners finAPI develops new and innovative online applications for the financial sector. Our customers are from a wide range of industries such as banks, financial service providers, insurance companies, software providers and many others. Major clients include ING, DKB, sevDesk, Swiss Life, ImmobilienScout24 and Finanzguru.
At the beginning of 2019 SCHUFA Holding AG acquired a majority stake in finAPI. Since then the two companies have been cooperating closely to develop XS2A-based solutions, e.g. for the secure and convenient identification of consumers in online transactions.
Verena van Engen
Senior Marketing Communications Manager
Do you have questions about finAPI DebitFlex?
With finAPI DebitFlex, we give you an innovative opportunity to offer customer-oriented receivables management for your customers via a one-time account analysis. For more information, please visit the finAPI DebitFlex product page or contact us.