Solarisbank chooses Algoan for its credit scoring and BNPL offer!

Solarisbank is experiencing very strong growth in Europe, especially since its successful launch in France. As a bank licensed and regulated by the German Federal Financial Supervisory Authority (BaFin), Solarisbank enables companies to offer their own banking services without the need for a license, avoiding the significant financial investment and numerous regulatory constraints. Solarisbank's Banking-as-a-Service technology platform offers a wide range of modular products such as digital bank accounts, identification and lending solutions, and digital asset custody services. All via APIs (Application Programming Interfaces), facilitating IT integration via its platform.

With its Credit Scoring and Payment Scoring Open Banking solutions available via API, choosing Algoan to strengthen its offering on the French market was an obvious choice for Solarisbank. Algoan's offering will enable Solarisbank to optimize the Credit Scoring of its customers: at iso risk, Algoan's scoring enables 40% more loan applicants to be accepted than with traditional scoring methods, and halves the risk if the same number of accepted loan applicants is retained.
This partnership will also enable us to anticipate and be prepared for any changes in regulations expected, notably on BNPL, by verifying customer solvency using payment scoring.

François Gutierrez, Chief Revenue Officer and Associate at Algoan, comments: " We are delighted to be working closely with Solarisbank on a multi-year contract, providing them with our Payment Scoring and Credit Scoring solutions. While Solarisbank is experiencing major growth in Europe, and particularly in France, many players today are underestimating the forthcoming BNPL regulations, which will enable consumers to protect themselves against over-indebtedness, and merchants to cope with the rise in unpaid bills. On this subject, the efficiency of Payment Scoring Open Banking is no longer in doubt, and we are delighted that players like Solarisbank are already convinced. "

Jean-François Guillaumin, General Manager France at Solarisbank, comments: "We are delighted to welcome a player like Algoan as one of our technical partners, providing us with expert support in the field of scoring. This partnership will enable us to expand our range of products and services available in France. The refined knowledge of their customers through scoring contributes to supporting the growth of current and future partners. Our ambition is to help them do just that, as well as enabling them to provide comprehensive financial services and an optimal customer experience."