Officially licensed and supervised by the German Federal Financial Supervisory Authority (BaFin).
Our risk analysis enables you to manage risks using data available in real time via the banking API. Risk factors such as chargebacks, debt collections, gambling or seizures can be identified in account transactions with a high degree of accuracy. Companies can use this insight to assess the payment behavior of their customers as well as the associated risks. When granting loans, banks can benefit from automated risk analysis of applicants’ accounts with third-party banks.
Chargebacks are recalled or bounced direct debits. Chargebacks can occur when there is insufficient account coverage for a payment. Customers can also actively initiate the recall with their bank, e.g. if they feel a payment was made in error. Chargebacks can be justified, but if they occur frequently, this is a warning signal. Our chargeback analysis lets you know more and reduces the risks of non-payment.
Most people pay their bills on time. But you can’t tell from a new customer‘s faces what their payment behavior is like and whether they pay on time. With our debt collection analysis you can identify previous transactions to assess the probability of late payment or non-payment.
More than half of all Germans have played the lottery at some point in their lives. Taking part in gambling now and then is not a problem, but if the gambling behavior is frequent and the stakes are unusually high, this can be an indication of problem gambling. Our risk analysis identifies gambling payments that can be evaluated accordingly.
In accordance with the “Gesetz zur Reform des Kontopfändungsschutzes” (Act on the Reform of Seizure from Account Protection), debtors have a legal claim to a protected account, a so-called P account, pursuant to Section 850k of the German Code of Civil Procedure. They can convert their current account into a P account or set up a new protected account. Our risk analysis can identify P accounts. And we can identify transactions related to seizures of funds with a high degree of accuracy.
AML is the abbreviation for anti-money laundering. With finAPI AML Risk Analysis, we identify transactions with a probability of being linked to money laundering or terrorist financing. Our analysis helps you to comply with the revised EBA directive 2015/849.
The following types of transactions may be an indication of money laundering or terrorist financing:
The European Banking Authority (EBA) has revised directive 2015/849 and the final revised guidelines were published on March 1, 2021: Final Report on Guidelines on revised ML TF Risk Factors
Have you already integrated finAPI Access into your system? Then you will be able to seamlessly integrate all risk analysis and other data intelligence services as well. Data intelligence analysis modules can also be easily integrated independently of finAPI Access. We provide you with a convenient Webform solution and take over the entire complex task of importing bank details and other data sources for you.
In addition to risk management based on risk analysis, our Data Intelligence Module offers a range of other analyses with which you can obtain an overview of your customers’ financial situation. Depending on the scope required, you can add further cash flow analyses and analyses for contract recognition, e.g. of insurance contracts, credit agreements, or utility contracts.