PitchIt Europe | Semifinalist
PitchIt Europe brings together the next crop of fintech innovators with the leading venture capitalists and ITSCREDIT was selected as one of Europe’s most innovative start-ups - listen to our pitch to leading fintech VCs and the LendIt Fintech audience »
At ITSCREDIT, we want to simplify the credit process and ease people’s lives the world over. We offer an Omnichannel Digital Lending Platform which allows bank’s customers to complete a credit application process in real time and online – from simulation to loan origination.
We showed our self-service credit app that combines information on monthly financial availability and the effort rate of bank customers (obtained through an analysis that combines personal financial data, the European PSD2 directive and information from other banks) with their recent financial profiles, goals and attitudes/behaviors. Based on these assumptions, the app presents a marketplace with the best suggestions.
The software starts by simulating the amount and term of a new loan and applying for it. We then simplify the whole bureaucratic operation process, allowing documents to be uploaded, accepted and confirmed with a simple click. At this stage, the process is pending a digital signature of the contract, such as the receipt of an SMS with a code to authorise the operation, after which the money is disbursed.
ITSCREDIT is enhancing digital lending capabilities and models, launching new versions in this year and next one for brokers and merchants and expanding the Buy Now Pay Later segment. We are delivering a range of services so that financial institutions can provide a more responsible and sustainable credit offer. With our platform, banks can help their corporate customers become more aware of their shortfalls regarding sustainability issues and support improvements in those areas so that companies become more sustainable and better positioned. We’re also taking into consideration in all our work the Web Content Accessibility Guidelines (WCAG) 2.1 to make Web content more usable to users in general.
Major banks and disrupting institutions within European, African and North American continents have already successfully adopted ITSCREDIT solutions. We want to make our solutions known and position ourselves as world-class players in the development of software for credit solutions.
Our Omnichannel Digital Lending Platform has already proved capable of providing a considerable increase in leads, an increase in the volume of loans and efficiency. At the same time, there were decreases in the waiting time for credit approval, a decrease in operating costs and a reduction in the time taken to launch new products.