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Kreditech

Artificial Intelligence (AI)
Hamburg Germany

015123013002

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    Contact Information

  • Company Name
  • Kreditech
  • Online Social Profiles
  • Phone Number
  • 015123013002
  • Location
  • Hamburg, HH

    Company Details

  • Year Established
  • 0

More About Kreditech

Kreditech Holdings SSL GmbH (Kreditech) was founded in 2012 and has headquarters in Hamburg, Germany. The Company is led by Alexander Graubner-Müller, the CEO, and Co-Founder. Additionally, it is financially backed by world-class investors such as J.C. Flowers, Peter Thiel, Rakuten and the World Bank’s International Finance Corporation (IFC).

Company Mission

Kreditech aims to leverage on technology to offer more financial freedom for the underbanked members of the society. In pursuit of this objective, the company combines non-traditional sources of data with machine learning to make digital banking and access to credit more convenient to consumers. Some of the key product the company offers includes;

  1. Consumer loans

  2. Digital wallets

  3. Personal finance management

  4. Credit as a service model

The provision of these services is made possible by Kreditech’s Monedo platform that makes it easy for consumers to access all credit options and smart digital accounts. The services are fully digitized and available to consumers 24/7. Additionally, the company has a system of making instant credit decisions and payouts.  Kreditech is keen to build long term relationships with customers and to help them improve their credit rating which will make them eligible for better credit conditions. So far, the company has processed over 4 million loan applications. 

Key technology

Kreditech has developed a unique technology that is used for scoring thin-file customers. The proprietary credit scoring technology relies on machine learning and artificial intelligence, making it possible to process up to 20,000 data points application. Significantly, Kreditech is able to score a customer in less than a minute and determine his or her creditworthiness with greater precision than is usually possible with the traditional credit bureau based systems. This is especially so when dealing with thin-file customers. With this globally unique technology, the company is able to provide fast and friendly service to consumers across all market segments. Even the underbanked and those who are either underserved or rejected by traditional banks can access credit at Kreditech.

Key facts

  • Kreditech offers a much superior and convenient customer experience in banking services and products.

  • The company offers fast loan application process powered by technology to enable fast processing and almost immediate payout.

  • Kreditech does not depend on credit bureaus in scoring.

  • The method of scoring produces almost accurate information as far as a customer’s credit risk is concerned. As a result, there is a low rate of default.

  • Kreditech is ranked between position 1 and 3 in all online markets in which it operates.

  • The company relies on data in all its business dealings including payments, scoring, debt collection and payments.

  • Kreditech offers both short term and long term consumer loans.

  • In addition to operating online, the company has physical offices in five other countries apart from Germany, including Poland, Czech Republic, Mexico, Russia and Spain. 

Notably, while the head office is based in Germany, the company does not offer any consumer products to the German market.

Partnership models

In addition to the direct consumer facing business, Kreditech is actively involved in a variety of business partnership models. This allows the company to leverage on its unique products and technology. The following are some of its partnership models.

  • Point of Sale (POS) Financing

Kreditech partners with various online POS and payment service providers (PSPs) to finance purchases in e-commerce transactions.

  • Credit-as-a-service

The company partners with financial institutions as well as e-wallet to offer alternative credit to non-prime customers who are in many cases ignored by the legacy finance institutions.

  • Technology

Through its subsidiary, Kontomatik, Kreditech offers software-as-a-service solutions to a variety of financial institutions.  

Recent Outstanding Achievements

On the 27th March 2017, the Central Bank of Russia conferred microfinance status to Kreditech Russia, a subsidiary of Kreditech. This was an important milestone for the whole Kreditech Group, confirming the trust in the company’s business. The development will allow Kreditech Russia to offer both investment products and consumer credit.

 The Central Bank of Russia issues the status of Microfinance Company (MFC) on a very restrictive basis. Kreditech Russia is one of the few companies in the market to have successfully completed the process. The status is – among many other factors – based on Kreditech’s strong capitalization, risk management, governance, prudent financial policies and strong owner support.

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