How they describe themselves: Nordigen helps banks and lenders approve more creditworthy loan applicants using the power of Open Banking. Our solutions include tools for automating income verification and verification of liabilities as well as generating risk-critical insights from account data for scoring models. We specialize in high-performance analytics, including risk-tailored transaction categorization, feature engineering for credit modeling and generating risk scores from account data.
How they describe their product/innovation: Nordigen Report allows banks and lenders to (1) get loan applicant account histories and (2) verify income and other risk-critical insights all in one place. Nordigen Report can be integrated with all major account aggregation or Open Banking APIs and uses industry-proven analytics to generate risk reports.
Nordigen Report has the following use cases:
- more information about “thin-file” customers
- income verification
- verification of current liabilities;
- verification of “red flags” (e.g. gambling, previous debt collection and bailiff cases, frequent cash use, etc.)
- generate new predictive features for credit models
Product distribution strategy: Direct to Business (B2B)