Transactional Data: The Future of Credit Scoring

Feb 28, 2019 / by Helene Stafferöd Westerlund

The financial services landscape has been radically evolving for the past decade, and credit scoring is no exception. Once the domain of a small number of credit bureaus, alternative credit scoring is democratising the credit underwriting process for banks and other lenders. This global trend shows no signs of slowing down, especially with the rise of digital-only banks and as more and more people use banking in unconventional ways, e.g. applying for a mortgage online.

Read More

Topics: Compliance (GDPR, PSD2), Credit Scoring, Onboarding, Digitalisation, Digital Identity, KYC/AML, Alternative Credit Scoring, Credit Risk Management

The Mexico Case: Open Banking

Dec 17, 2018 / by Claudia Del Pozo & Sarah Kok

This year has been named by Forbes as ‘the year of open APIs’. The implementation of open APIs in all sectors of the financial industry (FI) from banks to FinTechs has exploded around the world. FIs and governments are evaluating how open APIs can encourage industry openness and competitiveness, whilst simultaneously providing consumers with better user experiences. 

The name of the game is Open Banking and the UK has been a leader in this expanding global movement: there are already over 22 jurisdictions across the world that have begun to consider, or have implemented their own Open Banking initiative.

Read More

Topics: API, Digitalisation, Alternative Credit Scoring

Our New eBook: The Rise of Onboarding Abandonment Rates

Dec 6, 2018 / by Raiha Buchanan

In 2018, a concerning 60% of consumers in Sweden abandoned their financial applications. What is even more worrying is that this number has been increasing globally over the past few years. For example in the UK, the number of applicants who abandoned applications leapt from 40% in 2016 to 56% in 2018. 

Read More

Topics: Digitalisation, KYC/AML

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.

Read More

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

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. 

Read More

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

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.

Read More

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. 

Read More

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.

Read More

Topics: Instantor News, Digitalisation