Finding the Right Digitalisation Partner for Your Business

Nov 29, 2018 / by Raiha Buchanan

Brand loyalty is decreasing as consumers show a willingness to jump ship in search of the easiest application process. Established financial service institutions can no longer rely solely on consumer trust in an industry that seems to be disrupted daily by the latest tech solutions from challengers and start-ups.

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Topics: Product Updates, Onboarding, Digitalisation, KYC/AML

New Tech Prevents Excessive Debt Incursion

Nov 27, 2018 / by Raiha Buchanan

At Instantor we want to contribute to a more inclusive and fair financing market. We do this by making people's financial lives easier and helping organisations to understand their customers’ true financial capacity, using transactional data.

Our client, Lendify – Sweden’s largest marketplace for loans – wrote a great opinion article on how traditional credit assessments need to be updated. How new technology, like our AI credit predictor – Insight – can provide a more accurate and detailed risk analysis for lending organisations and be a force for a healthier lending market. Please enjoy a translated version by us that was originally published in Swedish by Realtid.se in October 2018.

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Topics: Credit Scoring, Financial Inclusion/Social Good, Alternative Credit Scoring

The True Meaning of Working at Instantor

Nov 22, 2018 / by Raiha Buchanan

What does it mean to be a part of something bigger? To us, it means working together as a team towards one mutual goal. In our case, that goal is to allow financial organisations to help more, at less risk.

On our quest towards financial inclusion, occasionally we encounter certain challenges – challenges that are sometimes resolved by the fact that we are such a diverse and multicultural team, and sometimes caused by it. 

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Topics: Instantor News

Transforming Lives Through Alternative Credit Scoring

Nov 19, 2018 / by Sarah Kok

For many of the world’s poorest countries, financial inclusion is a big problem. Large numbers of people have trouble just getting a bank account, let alone access to credit – particularly in non-OECD countries like Colombia, Ukraine and Vietnam, just to name a few. 

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Topics: Digitalisation, Financial Inclusion/Social Good, Alternative Credit Scoring

How Can AI and Machine Learning Explain Why? - The SHAP Model

Nov 5, 2018 / by Helene Stafferöd Westerlund

AI has been gaining popularity in recent years, particularly as it’s been improving in leaps and bounds for a whole range of tasks: from predicting the risk of child abuse in a given family to beating world champion Go players. 

However, one critical problem with using it for decision making in business is that the machine learning models can't explain the predictions they make: a customer might, reasonably, want to know why their cred it card or home loan application was denied. 

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Topics: Credit Scoring, AI/ML

Instant Access: Now on the Ukrainian Market

Nov 1, 2018 / by Raiha Buchanan

Our latest solution, Instant Access, gives you the power to analyse transactional data through PSD2. This data is used to digitalise credit risk processes – without requiring you to invest in any tech resources or spend any time on system integration. Moneyveo is the first lender in the Ukrainian market to use this solution and our very first partner in Ukraine. 

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Topics: Lending, API, Credit Scoring, Instantor News

The big Challenges Faced in KYC Implementation Today

Oct 25, 2018 / by Helene Stafferöd Westerlund

Recent developments, such as the European Union’s 4th AML Directive, highlight the challenges faced by financial institutions in ensuring KYC compliance in a continuously evolving regulatory landscape. It is now required that European companies disclose information regarding the beneficial owners. However, it’s extremely difficult to create best practices that multinational financial institutions can follow.

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Topics: Lending, Digitalisation, Digital Identity, KYC/AML

The Secret of Speeding up Commercial Risk Management

Oct 12, 2018 / by Helene Stafferöd Westerlund

The recent announcement by Santander to partner with nCino to support its business banking activities comes as no great surprise. Although nCino claims its platform offers benefits across the entire commercial banking model, it is the improvements in loan origination — a reduction of 40% in the time taken for loan decisions — that’s driving Santander’s initial implementation activities. 

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Topics: Onboarding, Digitalisation, KYC/AML

How Digitalisation in Finance is Simplifying our Lives

Oct 3, 2018 / by Raiha Buchanan

We were asked to give a talk at Almi HQ in Stockholm, where a banking delegation was taking place with CEO’s of venture firms and startups from all over Europe. The idea was for us to represent a northern perspective of the tech-sector, with ‘digitalisation’ as the theme. Here at Instantor, we take pride in being a part of supporting the tech-community to grow, share knowledge and challenge one another. In other words, that was of course something we were happy to do.

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Topics: Instantor News, Digitalisation

We're Sweden's First Authorised AISP Fintech Under PSD2

Sep 25, 2018 / by Simon Edström - CEO

We're proud to announce we’ve been approved to operate as an Account Information Service Provider (AISP) in Sweden, by the Swedish FSA (Finansinspektionen). We’re the first authorised AISP FinTech in the country, allowing us to build and provide better and even more relevant services.

The Swedish FSA's approval means we can continue developing products that support consumers to prove their true financial capacity. We see it as an important step in helping the financing industry to digitise its processes, as well as a significant step for the future of our company.

Image Credit: Hanson Lu

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Topics: Compliance (GDPR, PSD2), Product Updates, Instantor News