Just last month, FinTecSystems a Million-dollar investmentNow the next piece of good news from the Munich startup: The young FinTech company is collaborating with the Berlin-based direct bank DKB.
Deutsche Kreditbank AG (DKB) is now collaborating with FinTecSystems. Through its installment loan subsidiary SKG BANK, DKB will soon offer a fully online loan application, relying on the Munich-based startup's digital bank information service, which offers real-time creditworthiness analysis. Thomas Teuber, Managing Director of SKG BANK, explains what his bank hopes to achieve from the collaboration:
"With the integration of digital bank information into our loan application process, our customers will be able to obtain a personal loan even faster and seamlessly. This will also be possible on the go, using a smartphone or tablet."
Stefan Krautkrämer, CEO and founder of FinTecSystems, says:
"For FinTecSystems, the collaboration with one of the leading providers in the consumer credit sector is a milestone. We are very happy to be working with DKB to demonstrate the additional possibilities offered by online banking and the new digital services that can be derived from it."
Online processing from application to loan completion
FinTecSystems' digital bank information is as simple as possible for the customer: The customer provides the company with their primary bank's online banking credentials. The lending bank then receives the data needed for the credit decision from the service provider within minutes. The startup has already anticipated obvious data protection concerns: The Munich-based company promises to adhere to the strictest data protection regulations during the credit check. Using video identification and contracting procedures, SKG BANK will also be able to process the remaining steps in the credit process online in the future.
