FinovateSpring 2014 / Kreditech

Presenter Profile:

How they describe themselves: Kreditech is building the consumer-focused finance company for the 21st century. With its proprietary big-data scoring and underwriting technology, the Hamburg-based startup has built the foundation for personal finance products in emerging consumer finance markets. Customers can apply for short-term and long-term loans from €50 to €2,500, credit cards and other finance products in just a few minutes online or over mobile phones. Creditworthiness of a user is determined in less than a minute on the basis of up to 10,000 data points and loans are paid out automatically within minutes to a customer’s bank account, credit card or e-wallet.

How they describe their product/innovation: The self-learning proprietary algorithm scores an applicant’s creditworthiness within less than a minute. Without having to go to a bank, the customer can apply for his loan online or mobile, whenever and wherever. If accepted, the loan is paid out to their bank account within 10 minutes. Compared to traditional rating organizations like Schufa or FICO, the Kreditech Algorithm only studies the financial situation of the customer in the moment of the application and does not use historical data. The technology is therefore flexible and can quickly enter and adapt to new markets. There are 5 billion people in the world that have no access to financial products, and our technology is able to provide that to them.

Product Distribution Strategy: Direct to Consumer (B2C)


Press: Laurent Schüller, Head of PR & Brand Management,,
+49 0 40 605905 617

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