18 February 2018
visit www.nextgenbanking.co.uk/

AdviceRobo launches Seedrs crowdfunding campaign

19 October 2016  |  3548 views  |  0 Source: AdviceRobo

This week AdviceRobo, launched its Seedrs crowdfunding campaign. AdviceRobo is a top 100 European Fintech award winner and a leader in innovative credit scoring, advanced analytics and robo-advice solutions for consumer and small business loans.

Applications are currently with credit card providers, tier 2 banks and online retailers across the UK, Benelux and Spain.

More than ever financial service providers are faced with new, unexpected and possibly high risks. Mark Carney, the Bank of England Governor told an audience in Nottingham recently that he is willing to tolerate an inflation overshoot above the Bank’s 2% target. In addition, the Financial Times also calculated that the British government may have to pay up to £18 billion to the EU to exit the EU.

This will inevitably lead to increased costs for the British population. With 39% of Britons already living on the edge of their mortgage payments this will lead to a high financial risk for families. According to some studies families may be looking at an £500 to £1,000 extra expenses a month.

But also across other European countries are 119 million people (23%) living in daily financial stress. Also millions of new companies enter the European markets every year. They are all looking for capital to grow their businesses.

Financial service providers, online retailers, telcom operators and utility providers will therefore have to design structural better ways to onboard the good risk profiles and to predict and manage risk in their portfolio. New IFRS-9 accounting standards coming up will even force them to do so.

New big data FinTech solutions might provide some support. AdviceRobo developed a platform that delivers Innovative Psychographic Credit Scoring for onboarding the good risk profiles among customer segments with little financial history.

Also, the platform delivers Early Risk Warnings for default, bad debt and churn to support mitigation of financial company risks. “We make use of the data explosion and apply new technologies such as Machine Learning and deep neural nets to predict risk at an individual customer level.’ says Diederick van Thiel, CEO of AdviceRobo,. ‘This will enable companies across sectors to contact the customers in time and mitigate their financial risks.

Crowdfunding campaign
To grow its presence across the UK, the AdviceRobo company kicked off a crowd funding at Seedrs. 

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
visit www.nextgenbanking.co.ukvisit www.ebaday.comVisit https://www.capgemini.com

Who is commenting?

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
10741 views comments | 16 tweets | 11 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8412 views comments | 15 tweets | 42 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8124 views 10 comments | 21 tweets | 26 linkedin
hands typing furiouslyHow can Blockchain Help with AML KYC
7841 views 3 | 9 tweets | 4 linkedin

Featured job

Six-Figure-Base, Double OTE, Benefits Package
London, UK

Find your next job