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Cash flow and risk analysis for automated credit decisions
Private customers and companies apply for loans worth billions of euros every year. Many applications are still checked manually by banks and credit institutions, involving an enormous amount of time and effort. But creditworthiness can also be analyzed automatically with finAPI’s Digital Account Check, saving time and avoiding human error.
Digital account check and credit assessment - online and in real time
A look at a loan applicant’s bank transactions provides an indication of his or her creditworthiness. Various risk factors, such as chargebacks, are part of the analysis of credit rating. For lenders this means less effort and more certainty when making credit decisions.
3-STEP CREDIT CHECK
How does the digital account check for credit granting work?
1. Login-in to online banking
The customer logs into his online banking via a secure finAPI website.
2. Account analysis in real time
Bank transactions are retrieved and analyzed. Cash flow is examined, and risk factors are determined to provide a credit assessment.
3. Result of the account analysis
The result is available immediately after the credit application has been checked. If the credit is approved, the loan can be transferred directly. Both lenders and borrowers benefit from this quick and easy process.
BANKS AND OTHER LENDERS
Advantages for lenders
- Reliable and comprehensive analysis of risk assessment
- Expandable and scalable
- Reduction of manual effort and costs
- Reduced risk of default and protection against fraud
- Increase in conversion rate, higher acceptance and completion rates
- User-friendly application for more satisfied customers
APPLICANTS
Advantages for borrowers
- Online application - anyplace and anytime
- No annoying paperwork
- Fast loan decision and payment
- Secure transfer of data via online banking
- Highest requirements for data protection and data security
FIND OUT MORE
Do you have questions about the Digital Account Check?
Send us a message. Our experienced team will get back to you as soon as possible.
KYC EXTENSION
Supplementary identity check or full digital KYC check
With our KYC solution finAPI GiroIdent, you can identify customers in real time via their bank account. Identification can easily be integrated into the digital credit application process. finAPI GiroIdent: Fast, secure and completely AMLA compliant.