Source: Fellow Finance
Banco BNI Europa has started to invest in loans through the Fellow Finance platform as the first European bank.
As a modern bank and a forerunner in FinTech partnerships Banco BNI Europa will now be present on the Nordic and Central European consumer loan and SME loan market as investor through Fellow Finance.
“Modern banks expand and grow by partnerships. Fellow Finance enables and offers an easy access to invest and lend in Nordic and Central European consumer and SME loans through its platform. Through their investment account at Fellow Finance, Banco BNI Europa is able to diversify their balance sheet investment into Finnish and German loans easily and cost-effectively. This is an example that banks don’t need to set up their own expensive operations on ground but can effectively enter markets through marketplace lending platforms. It is also an example how banks can also utilize the presence of FinTech among their core business” says Jouni Hintikka, the CEO of Fellow Finance.
“Investing via Fellow Finance in consumer and SME loans offers us a great opportunity to easily expand our operations and we are very satisfied with the analytical and professional approach of Fellow Finance in credit intermediation” echoes Pedro Pinto Coelho, Executive Chairman of Banco BNI Europa
To date Banco BNI Europa has struck fourteen fintech partnerships with European fintech leaders across the continent. The bank had 141 per cent growth by the end of 2017 taking its total assets above €500m, and cited its focus on “innovative products” as an explanation for the improved performance.