24 July 2017
download the report now

BNI Europa launches instant consumer credit system

07 July 2017  |  3748 views  |  0 Source: BNI Europa

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.

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.ncr.comvisit www.finastra.com

Top topics

Most viewed Most shared
Mastercard to buy AI outfit BrighterionMastercard to buy AI outfit Brighterion
10685 views comments | 14 tweets | 20 linkedin
Barclays rides payments-as-a-service wave with investment in Form3Barclays rides payments-as-a-service wave...
9544 views comments | 16 tweets | 12 linkedin
Mastercard and Scotiabank join Enterprise Ethereum AllianceMastercard and Scotiabank join Enterprise...
8303 views comments | 25 tweets | 16 linkedin
PayPal strikes deals with Chase and CitiPayPal strikes deals with Chase and Citi
8024 views comments | 10 tweets | 5 linkedin
UK judge blocks £14bn class action suit against MastercardUK judge blocks £14bn class action su...
7858 views comments | 5 tweets | 6 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job