BNI Europa Unveils instant Consumer Credit System

BNI Europa Unveils instant Consumer Credit System
10.07.2017 08:30 am

BNI Europa Unveils instant Consumer Credit System

Infrastructure

Following its strategy of continuous innovation, BNI Europa has just launched “Puzzle” a Fintech focused on consumer credit. 

“Puzzle” aims to introduce the Portuguese market the first totally digital and real time credit approval process with a simple, and nonbureaucratic concession. These new types of platforms have become a global trend with good examples such as The Lending Club in the USA, or Zopa in the United Kingdom. 

“Puzzle” offers credit up to three thousand euros, and different payment maturities and is intended to be a quick response to small credit needs, which can be satisfied in a nonbureaucratic, simple and fast way. 

The client may complete the application process in just a few minutes, allowing the customer to have the money in his bank account within 24 hours after the approval. "Puzzle" also innovates in its credit decision process which incorporates machine learning algorithms, that allow better identification of the client´s payment capacity, and thus cover some market segments such as independent or freelance professionals hitherto not served by the current financial sector offer. 

With this launch, BNI Europa intends to continue its strategy of strong growth through innovation, anticipating the “Puzzle” platform will give rise to a credit volume of 300 million euros within three years in the Portuguese market. At a later stage BNI Europa considers the possibility of entering other European markets as well leveraging the same platform.

Related News

Shaping the New Normal for Tech Post COVID-19

C-suite Fortune 500 technologists set to unite on 30th July to delve into what the recent pandemic means for the future of customer behavior, new digital offerings, and the... Read more »

Singapore homegrown SME Neo & Partners Global wins Best Infrastructure Provider at the WatersTechnology Asia Awards 2020

Neo & Partners Global, a finance & technology group serving the capital markets sector buy-side community of commodity... Read more »

Nine in 10 Financial IT Leaders Say The Very Survival of Their Firms Depends on Digitalisation in the Next Two Years

 Mendix, a Siemens business and the global leader in enterprise low-code, released a survey showing that, despite being one... Read more »

ConsenSys Codefi Announces Ethereum 2.0 Staking Pilot Program with Six Members

ConsenSys Codefi is launching an Ethereum 2.0 staking-as-a-service platform with institutional functionality for... Read more »

Banking Circle adds USD Amazon collections for its marketplace customers

Banking Circle, the innovative financial infrastructure provider, has enhanced the tools available to Payments businesses for their marketplace customers. Payments businesses... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel