How they describe themselves: Fintonic is mobile banking for the products that matter. Fintonic leverages big data financial information, using proprietary credit scoring and machine learning algorithms, to provide customers with an unparalleled financial experience and highly targeted loans and insurance products. Fintonic provides a 360 degree access point for customers to all their accounts and financial information and provides them through the analysis of millions of financial data points with relevant financial products and a superb user experience. Fintonic´s algorithm analyses the suitability of a user for a loan and presents it with pre-approved loans that can be contracted with just one click in a seamless mobile experience.
How they describe their product/innovation: Fintonic will be introducing an innovative alert and inbox system that will help users act timely on their financial needs, recommendations or product proposals, followed by a product workflow that has fully transformed the loan underwriting process, turning it into a seamless and unique digital experience for mobile users, leveraging the new available technologies in mobile devices (camera, touchpad, geolocation) and cutting-edge big data & advanced analytics methodologies.
Product distribution strategy: Direct to Consumer (B2C)