Fully automated loan application processes and embedded finance

The starting point of the process is external data from the credit applicant, which can be processed from various sources via appropriate interfaces, such as from your landing page, from credit platforms or from embedded finance offers. Initial automated plausibility checks take place in the process. Optionally, an existing customer check can be performed, which allows an individual evaluation of the credit request in the subsequent process.

In this key step, the individual credit decision takes place on the basis of the implemented decisioning rules. These are implemented specifically according to your requirements with the help of DMN decision tables and thus remain transparent despite the highly automated process. This is because their technical parameters are transferred one-to-one into the decisioning workflow and the results of the individual case decisions thus remain accessible and traceable. External data from sources such as creditworthiness checks, fraud prevention and sanction checks is incorporated into the decisioning process. For the European market, we have already connected many of the most important service providers – such as Schufa, CRIF, CEG, Infoscore, Kremo and ZEK – and can also integrate further services via our flexible API architecture according to your individual requirements.

Following the credit decision, secure data interfaces to providers for online identification and contract conclusion ensure legally compliant data checking and verification of the applicant. Through our partner network, an individual combination of services is possible. These include proven KYC procedures such as VideoIdent or AccountIdent, as well as uncomplicated QES integration for digital signatures. This ensures a customer experience free of media discontinuity.

Once the credit application has been completed and accepted, the data on the credit and the applicant is transferred fully automatically via interface to your core banking system and, if applicable, your CRM, and the disbursement of the credit or the opening of the credit line is initiated.

The complete digitization of the credit application process allows comprehensive analysis and control options at the technical and functional level. To take advantage of these, we can also provide an interactive dashboard that visually presents all relevant data from the entire credit application process. Among other things, this allows you to monitor key KPIs such as accepted and rejected loan applications in real time or to identify the causes of functional and technical process failures, which you can use directly for optimization as well as for monitoring error-free operation.