Nordigen, the only free open banking platform, is partnering with SME lending provider Spotcap to support lending solutions with in-depth customer insights.

Spotcap Global Services is a global lending as a service (LAAS) provider with extensive prior experience in own balance sheet lending across multiple countries in Europe and APAC. Built upon years of experience, the developed solution offers a fully comprehensive solution to cover all aspects of digital lending to SMEs including an application flow and onboarding module, document processing, credit analysis, CRM as well as loan management systems. 

“With Nordigen's API, Spotcap can securely and quickly gather customer data to enhance existing products. We share a joint purpose, to create convenient and comprehensive services using data, and Nordigen has the necessary tools to help us achieve this,” says Viktor Kocherga, SVP of Technology of Spotcap.

One of Nordigen’s services is providing access to financial transactions, which is the main tool used by Spotcap. In conjunction with previous lending information, it provides enhanced credit reports for better decision-making and in-depth customer financial behavior evaluation. Spotcap is mainly driven by credit scores and financial decision-making, which is why the collaboration with Nordigen was a natural choice. As an extension, Spotcap developed a stand-alone credit risk solution based on bank account insights to determine a probability of default, appropriate credit limit as well as transaction categorizations and warning signals, among others. Such service benefits from the recently connected Nordigen Account Information product that provides us clients’ Bank Transactions and Account Balances as a key input data.

“Nordigen’s open banking data has allowed lending platforms like Spotcap to improve their services. By partnering with Nordigen, Spotcap can use open banking’s full potential to improve lending services and provide a better experience for its users,” says Rolands Mesters, co-founder and CEO of Nordigen.