BankTech

Kontomatik Announces Financial Health Indicator

MEDICI

July 25, 2016 - Warsaw, Poland: Kontomatik recently announced the launch of Financial Health Indicator (FHI), a lightweight solution engine for powerful assessment of user's financial state. The tool works in conjunction with Kontomatik Banking API, a connection to more than 100 banks that is already available in nine countries. Kontomatik Financial Health Indicator is designed to serve small- and medium-size lending companies, as those often distribute the loans with none or poor credit assessment. With the help of FHI online lending, companies will be able to benefit from the detailed credit assessment of their clients. Hence, the operating risks for them will be lower.

Currently, Financial Health Indicator is available for instant deployment in Poland, Czech Republic, Spain, Mexico and Russia. There are plans to add the UK, Portugal and Brazil to FHI’s coverage by the end of 2016.

Financial Health Indicator is a sophisticated algorithm that returns the results in a very simple output.It assesses the healthiness of a user's banking data on a scale from 0 to 100, and, an online lending company is capable of stating its acceptance score.

To perform the assessment, FHI evaluates a few types of financial data: average monthly income, total account balance, an age of the account and its richness.Next to this, FHI also considers the sum of loans granted by other lenders. Kontomatik Financial Health Indicator is likely to become an essential element of an online lending company as it is simple, yet powerful, can be integrated very easily and, finally, it works with a speed of light.

For more information about Kontomatik Financial Health Indicator, you may download this brochure, visit the Kontomatik website or reach out to Kontomatik directly at contact@kontomatik.com.

MEDICI Team

MEDICI

MEDICI Team is a group of content writers, bloggers, journalists, researchers, and editors from the MEDICI team who collaborate to create FinTech insights.

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