At the moment, it is difficult to imagine a company still operating on the market that does not use external solutions. Regardless of whether it is about security, risk control, document flow or customer experience. One of the companies that believes in extensive cooperation is Smartney - one of the fastest growing fintechs in Poland. With a market share of 16%, in 2021 it became a leader in the sale of consumer loans for a period of over 12 months in the segment in which it operates.
However, with a team of several dozen people, there is a limit to solutions that it can develop internally. Therefore, he is constantly looking for innovative solutions and partners on the market that can improve individual areas of the company's operation.
One of the "solutions to the future" is open banking
European regulations influenced the faster and faster development of open banking. It is a model in which a certain part of the data on clients and their movements in the financial market can be made available to other authorized entities. Previously, these data were used only by a bank or an institution providing financial services - eg to select and sell additional products to their customers. Providing similar data means that similar data can improve the customer experience when also using services offered by other companies.
How does it work in Smartney?
The company cooperates with Kontomatik to verify its clients applying for a loan.
Customer identification based on open banking and data provided by Kontomatika takes an average of 11 seconds. Out of all the available verification methods, 67% of the company's customers choose this method of identification.
Credit verification is another minute - during which the company processes data from several sources. To look at this data in the right light, we should remember that the alternative is to visit a stationary branch, submit a certificate of income obtained and fill out a long loan application, asking in detail about the borrower's financial situation.