https://finovate.com/generative-ai-powered-business-automation-specialist-kognitos-secures-6-75-million/

• Business automation specialist Kognitos raised $6.75 million in seed funding. The investment takes the company’s total capital to $9.35 million.
• Kognitos leverages Generative AI and Natural Language Processing (NLP) to enable business users to build automations using “English as code.”
• Kognitos made its Finovate debut at FinovateSpring last year.

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Here’s a funding announcement from a new alum that slipped beneath our radar. Business automation solution provider Kognitos raised $6.75 million in seed funding earlier this year. The round was led by Clear Ventures. Engineering Capital and Wipro Ventures, the corporate investment arm of Wipro, also participated. The investment takes Kognitos’ total funding to $9.35 million.

Kognitos will use the capital to expand its cloud-based Koncierge platform. The platform leverages an AI engine that interprets English as well as humans do. This enables businesses to build automations using natural language. Koncierge blends business data and logic with logic learning machine (LLM) technology to automate business processes at cloud scale.

“It’s time for computers to behave like humans, and humans to stop behaving like machines,” Kognitos founder and CEO Binny Gill said. He referred to the technology as an “unprecedented engine that runs English as Code.” He also noted that now “anyone can describe what they want to be automated, and their automation is generated – all in auditable English. That means no developers, no complex tools, no bots.”

Kognitos’ technology responds to two challenges. On the one hand there is a growing opportunity in business automation. On the other hand, there is a relative lack of skilled workers in the automation field. Kognitos’ solution tackles these issues with a combination of Generative AI and NLP to enable automation of a wide variety of processes from invoicing processing and insurance claims to credit card payment reconciliation. The ability to use natural language also gives Kognitos’ technology an advantage over many no code/low code solutions. This is because those technologies still require the involvement of IT and other service providers. Clear Ventures founder and General Partner Rajeev Madhavan underscored the value of avoiding this obligation. “Kognitos already has several customers using this capability in production,” Madhavan said, “saving significant time and resources in their businesses, without the need for developers.”

Founded in 2020, Kognitos made its Finovate debut last year at FinovateSpring 2022. At the conference, Gill and VP of Growth Jason Langone explained how its business automation solution helps all business users contribute to the company’s competitive advantage. By enabling them to build automations and microservices with NLP and Generative AI, Kognitos technology empowers users and helps remove obstacles and technical barriers-to-entry for a wide variety for businesses.

Kognitos is headquartered in San Jose, California.

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Photo by Brett Sayles

https://finovate.com/generative-ai-powered-business-automation-specialist-kognitos-secures-6-75-million/

https://finovate.com/smb-banking-is-being-changed-rapidly-by-embedded-finance/

This is a sponsored article by Jesper Petersen, CTO, 9Spokes

SMBs have long been a challenge for banks to serve well. They are often too small to offer a tailored service that they may need during times when there is opportunity for growth or when their business is suddenly challenged.

Embedded finance is rapidly becoming a new norm for SMBs in payment and banking. The segment has expanded rapidly and is expected to generate revenue of $230 billion USD in 2025. This a 10-fold increase from the $22.5 billion generated in 2020.

At the same time, the SMBs are too diverse to address in a scalable way that makes sense for the banks. Whilst there are still dependencies between the SMB and the bank, many new options are also available for the SMB, which means many find alternatives that serve them better even if the cost may be higher.

Finance is one of those areas that is rapidly evolving and embedded financial options are becoming available in applications such as point of sales and marketplaces. An example of this is e-commerce marketplaces offering real-time credit product in the form of BNPL (Buy Now Pay Later) at the point of purchase using finance providers such as Klarna, OpenPay, and Afterpay.

The funding behind these solutions in some cases come from the traditional banks but the bank has no relationship with the SMBs the service is offered to. Therefore, the bigger question here is if the relationship with SMBs is shifting away from the traditional banks to alternative providers. Alternative providers with tailored products for the SMBs to meet the demand when it emerges and to satisfy requirements where they operate.

The SMB landscape is also changing, and their skillsets are becoming stronger. People leave corporate functions and take their skills and understanding with them into the new businesses they start. A big driver for many is the desire to be self-sufficient which is the key decision point for almost 30% of new business starts in the U.S.

Most SMBs are back operating at pre-pandemic levels again. However, SMBs are not emerging unscathed from the pandemic. They know that they need to change and adapt to the demands to be able to overcome financial challenges when they emerge either through own choices or through societal challenges like Covid.

The finance market for SMBs is large and whilst more challenging to serve, it can be a lucrative market. The embedded finance options often utilize the data available in the platforms to provide SMBs with tailored solutions, to better meet their situation and need. The data they have access to means they have a better risk profile closer to real-time than a traditional bank would have.

A new range of services is also emerging embedded into the software utilised by SMBs instead of through the traditional banking route. Klarna is an example that offers lending services to its 250K customers through partners such as Liberis as an alternative to their own BNPL service.

The benefit of these services is that they are fast to access as they can make the evaluation largely with the data they access. It makes the experience of signing up and utilizing the service superior and significantly faster to access compared to traditional banking products. Furthermore, being rejected for a service has fewer consequences than a traditional bank rejecting a loan or credit card for a business.

Where does this leave us as the embedded banking services are expanding and alternative financial providers are increasing their market share significantly? Banks still have a role to play and are still serving SMBs, but they are missing out on expanding the services they provide. It is critical that they find ways to provide banking services to SMBs that utilize data to understand the real risk they are taking and enable them to respond faster.

SMBs still need their banking relationship but they seek alternative options as they struggle to get access to the financial services, they require to both survive and expand their businesses. Hence the need to find ways to facilitate better relationships using the data available and enable a real conversation about the business challenge.

https://finovate.com/smb-banking-is-being-changed-rapidly-by-embedded-finance/

https://bankautomationnews.com/allposts/risk-security/whats-next-in-default-management-reducing-cost-risk-with-better-digital-experience/

Debt collection is challenging even during times of economic expansion, so when a recession looms, banks and lenders (and the customers you serve) are in even more of a bind. Higher interest rates are making debt more expensive and potentially more challenging for customers to stay current on payments, especially when facing job loss or other consequences of a recession. This means defaults are rising. Meanwhile new (and constantly changing) regulations put banks at risk of heavy fines for breaking the rules, especially around consumer protections.

This current economic reality means that banks, lenders and credit servicing agencies need to take a hard look at the ways they communicate with borrowers, especially in default or collections scenarios. Improving the content and delivery of your communications has positive short-term implications, to be sure. But it can also result in higher longer-term loyalty when the customer seeks access to credit again in the future. If you treat a customer well during financial difficulties, that can form a lasting impression that results in additional revenue down the road.

So how can you reduce risk of potential losses and improve the customer experience, while staying compliant with the Consumer Financial Protection Bureau (CFPB) and other regulators? The research is clear: traditional methods aren’t working anymore. Even before the pandemic, the average collections rate was below 20 percent, the lowest in 25 years, according to EY Parthenon. Moreover, banks’ outbound collections strategies have been costly and inefficient, with their success rate standing at roughly 5 percent. Despite poor response rates, 65 percent of bank-initiated contact related to debt collection is still through “traditional” channels (phone, voice, mail or letter). Meanwhile CFPB has already put limits on channels like phone calls.

With that, it’s no surprise that lenders are shifting to digital channels for communications:

• Digital-first customers who are contacted through electronic means make 12% more payments than those sought out through traditional channels, according to a 2019 McKinsey report.
• Lenders favoring digital-first solutions have seen monthly installment payments triple across portfolios and the cost of collections fall by more than 15%, McKinsey reports.

Not only are digital methods more effective, but they also hold the potential to demonstrate that empathy. Frequency of contact, tone and the ability to “opt out” are tracked much more easily via digital channels, with some technology solutions offering a full audit trail of every communication sent and received.

Modernizing Collections Communications

Lending and default operations leaders should look at these four areas related to digital-first customer conversations to improve total performance:

1. Think about a holistic collections customer journey that makes it easier (and less embarrassing) for customers to get the help they need online, when and how they need it, while improving the amount you can recover. Make it easier for customers to remain current on their payments with digital reminders. Make it easier to consider simplifying repayment with debt consolidation, pointing to digital resources. Replace paper or static web forms with smarter digital interviews that guide borrowers to request a skip-a-payment, loan deferral or modification. Equip your contact center with these as well, so they can lead customers to the right offers.
2. Make it easier to update language in your communications across every channel. The more you can empower business users instead of IT to make changes to dunning letters and digital forms – the greater the business agility. At the same time, give your contact center reps places where they can personalize correspondence to the individual to provide a better customer experience, while locking down other sections to ensure compliance. Make it easy for a customer service person to see what communication was sent to what customer, in what channel. And find a solution that gives you a full audit trail on who changed what, when, to support your compliance team.
3. Use content intelligence tools to optimize your collections communications for impact. Messages should be clear and easy to read. This is important for regulators too, as noted above. Content intelligence tools are popular for just this reason: they allow you to optimize the readability, tone and sentiment within your communications, enabling you to focus on what you are striving for – truly engaging with your customers. Artificial intelligence tools can also help you coordinate across channel, so you can start maybe with email or SMS, and then fall over to print and mail letters automatically based on customer response.
4. Look for customer communications solutions that are cloud-native and have API-driven integrations with best-in-class tools and workflow automation. Many organizations are moving from on-premise credit management solutions to composable, cloud-native solutions, like Salesforce or CGI Credit Studio. When you connect your CCM solution to core collections systems like these, or process automation tools, you can automatically trigger the right communications at the right time, which can help improve repayment rates.

Whether borrowers run into financial challenges affecting their ability to pay – or they simply lose track of the due date – it’s important for lenders to communicate with empathy. This is especially important when it comes to vulnerable or at-risk customers. No one wants to end up in collections, but it can also represent an opportunity to build the customer relationship.

Learn how the Smart Communications Conversation Cloud™ platform enables banks and lenders to solve these challenges, and about our integrations with core systems and download the eBook: Changing the Lending Conversation.

https://bankautomationnews.com/allposts/risk-security/whats-next-in-default-management-reducing-cost-risk-with-better-digital-experience/

https://bankautomationnews.com/allposts/business-banking/customers-bank-finds-risk-management-solution-in-true-digital/

When Washington, D.C.-based Customers Bank made the decision to augment its third-party risk processes with the assistance of a fintech, it joined nearly 100 other community banks to shop for one via vendor platform True Digital.  True Digital allows banks to connect with fintechs in various banking technology areas, essentially making it possible for financial […]

https://bankautomationnews.com/allposts/business-banking/customers-bank-finds-risk-management-solution-in-true-digital/

https://finovate.com/finovate-global-france-automating-payments-extending-loans-and-collaborating-on-crypto/

This week’s edition of Finovate Global takes a look at recent fintech developments involving companies headquartered in France.

First up is news that European Buy Now, Pay Later firm Alma has partnered with BNP Paribas and new Finovate alum Numeral to automate payments.

“As part of our goal to create the most fluid and seamless experience for both merchants and customers, paying our 11,000 and growing merchants reliably and efficiently is critical,” Alma COO and co-founder Guillaume Desloges said. “Numeral enables us to scale with confidence and focus on our core business.”

Alma Finance and Strategy Senior Manager Simon Shohet explained that the integration of Numeral into both its systems as well as BNP Paribas’ systems, audit trails, and approval rules will enable automation of the process of managing “thousands of daily payments at scale.” Shohet added, “Thanks to Numeral, we can focus on the most critical incidents and rapidly solve merchant’s issues.”

Alma plans to eventually use Numeral’s platform to become a SEPA participant via BNP Paribas. This would enable Alma to issue IBANs in its own name, a strategic advantage for the firm.

Numeral made its Finovate debut at FinovateEurope in London earlier this year. At the conference, the Paris-based company showed how financial institutions can leverage Numeral’s platform to automatically send, receive, and reconcile SEPA payments. The platform also enables financial institutions to manage payment errors via SEPA R transactions. The company is on track to process €5B in 2023.

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Also this week, we learned that Revolut will begin offering customer credit products in France at the end of the month. The company announced that consumer loans will be available to Revolut’s more than two million French users starting on May 30th.

Revolut currently offers lending products in other European markets. These markets include Ireland, Lithuania, and Romania. Mortgage products are not part of the current package. But Revolut VP of Growth Antoine Le Nel said that these products are in the pipeline.

Thanks to Revolut’s embrace of open banking, prospective borrowers will be able to apply for loans without having to deal with hardcopy paperwork. Instead, applicants will get virtual “instant feedback” on their loan requests. Loans come with zero opening fees and are available from as low as €1,000 to as high as €50,000. Terms range from three months to 84 months and interest rates range from a low of 3.9% to 21.12%.

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France has earned a reputation for being friendly to the cryptocurrency industry. This week’s news of a partnership between Canada’s Advanced Payment Solutions (APS), Cyprus’ Armenotech, and France’s Tempo France is another modest testament to this.

Back in at the beginning of the year, Armenotech and payments company Tempo Finance teamed up to develop an ecosystem supported by the Stellar blockchain. This week, we learn that London-based Advanced Payment Solutions has joined the pact.

APS CEO Serik Igbayev highlighted the importance of giving businesses the ability to work with traditional and digital assets. And in a statement, Igbayev praised the partnership with Armenotech for playing a key role in making this happen. “Clients increasingly demonstrate a demand for services that would enable them to operate both traditional and digital assets, combining various payment methods,” Igbayev said. “We have successfully been using state-of-the-art Armenotech solutions to meet this demand.” These solutions included tools that facilitate the conversion between fiat and digital assets, as well as products for fraud protection, security, KYC, and ALM.

Tempo France is serving as the corporate payment operator for the alliance. Founded in 2008 and headquartered in Paris, Tempo France provides a fast and secure bridge between cash and cryptocurrencies. The company offers online, offline, and digitally backed remittances to nearly 100 countries with more than 300 physical agent locations. Alla Zhedik is CEO.

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Here is our look at fintech innovation around the world.

Sub-Saharan Africa

Central and Eastern Europe

Middle East and Northern Africa

Central and Southern Asia

Latin America and the Caribbean

Asia-Pacific

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Photo by Chait Goli

https://finovate.com/finovate-global-france-automating-payments-extending-loans-and-collaborating-on-crypto/

https://bankautomationnews.com/allposts/payments/citizens-invests-in-citizens-pay/

Citizens Financial Group is making innovations based on customer value to ensure that its technology investment serves specific needs. “Innovation needs to start from the customer. What’s the need you’re trying to solve?” Brendan Coughlin, vice chairman and head of consumer banking at Citizens Financial Group, said this week at Fintech Nexus USA 2023 in […]

https://bankautomationnews.com/allposts/payments/citizens-invests-in-citizens-pay/

https://bankautomationnews.com/allposts/ai/what-banks-are-saying-about-ai/

NEW YORK — Banks are looking into AI use cases within their operations, but many are proceeding with caution as they keep customer experience, data collection and, especially, regulation in mind. Financial institutions discussed AI within the industry at Fintech Nexus on Wednesday. They said:  Provident Bank: Banks can use AI to gain a better […]

https://bankautomationnews.com/allposts/ai/what-banks-are-saying-about-ai/

https://bankautomationnews.com/allposts/core-cloud/pnc-rebuilding-tech-stack-to-add-flexibility/

PNC is rebuilding its technology stack to be more modern and flexible, Michael Degnan, head of enterprise innovation at PNC, said Wednesday at Fintech Nexus in New York.   The $557 billion bank has nearly completed upscaling its tech to enable more agile decisions — especially when quick pivots are necessary, he said.  For example, PNC […]

https://bankautomationnews.com/allposts/core-cloud/pnc-rebuilding-tech-stack-to-add-flexibility/

https://finovate.com/experian-introduces-new-fintech-data-network-to-help-businesses-fight-fraud/

• Global information services company Experian launched a new fraud prevention solution this week.
• The new offfering is a fintech-focused version of its fraud prevention data network Hunter.
• Hunter takes a collaborative approach to fraud mitigation. The technology has saved businesses more than $6.5 billion a year in fraud losses.

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Experian is launching a fintech-focused version of its fraud prevention data network, Hunter, in the U.S. The technology is currently being used by more than 450 organizations in 24 different countries. Experian reports that Hunter has saved its clients more than $6.5 billion a year in fraud losses.

Hunter works by providing participants with a “line of sight” into borrower activity across the fintech industry. A collaborative data network, Hunter enables participants to share data on fraudulent activity in real-time. That data is then securely linked across the network. Participants can use the network to identify potential fraud when onboarding new customers or when verifying current customers. Experian noted that its clients have seen a 35% increase in fraud detection when participating in a Hunter network.

“Our new U.S. Hunter network will harness the power of data and analytics to address real pain points that fintechs experience in combatting fraud,” President at Experian Decision Analytics in North America Robert Boxberger said. “By taking a collaborative approach, fintechs can use this additional data to make more informed decisions that enable smart portfolio growth, improve the customer experience, and mitigate major fraud losses.”

The Hunter network will be available in the U.S. later this year, the company said.

Experian made its Finovate debut in 2012 and most recently returned to the Finovate stage for FinovateFall 2018 in New York. The company’s Hunter announcement comes just weeks after Experian unveiled a new cloud-based fraud solution powered by adaptive machine learning called Aidrian. The new offering is designed to help businesses fight fraud without negatively impacting the customer experience. Last month, Clearcover Insurance Company announced that it had launched a new embedded insurance solution courtesy of a partnership with Experian. The technology gives insurance consumers final, bindable quotes when they shop using Experian’s auto insurance comparison shopping service.

Headquarted in Dublin, Ireland, Experian was founded in 1980. Brian Cassin is CEO.

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Photo by Pixabay

https://finovate.com/experian-introduces-new-fintech-data-network-to-help-businesses-fight-fraud/

https://finovate.com/cable-raises-11-million-to-help-reduce-financial-crime/

• Cable received $11 million in Series A funding, boosting its total raised to over $16 million.
• Cable will use the funds to boost hiring and speed up its product development to help crack down on financial crime.
• Cable’s technology helps BaaS banks oversee their fintech partners to remain compliant.

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Financial risk control platform Cable announced an $11 million investment today. Today’s investment, which boosts the company’s total funding to just over $16 million, comes from Stage 2 Capital, Jump Capital, and existing investor CRV.

The London-based company will use the Series A funding to solve what it calls a “$4 trillion problem,” financial crime. Specifically, Cable will use the money to ramp up hiring across its product, engineering, data, and go-to-market teams, and speed up its product development.

“Raising money in and of itself is not our goal at Cable,” company CEO Natasha Vernier said. “We look at this fundraising as a way to reach more customers more quickly with the products and features they need to do their jobs better. To that end, we’ll be using this money to hire across our product, engineering, data, and go-to-market teams, and quicken our product development pace to make more headway into our long roadmap of products and features.”

Cable’s financial risk control platform helps firms reduce financial crime with automated account monitoring, quality assurance that minimizes the need for human review with simplified testing, real-time alerts, reporting, risk assessments, and more.

Cable was founded in 2020 and demoed its technology at FinovateFall 2022 in New York. Since launch, the company has debuted its Automated Assurance product that identifies financial crime regulatory breaches and control failures in real-time, launched its automated risk assessment tool, and created its Quality Assurance tool that offers business intelligence and workflow tools to help compliance officers succeed.

The company’s technology doesn’t just help banks manage financial crime. Cable’s infrastructure is aimed to work in the banking-as-a-service (BaaS) era, offering BaaS banks oversight over their fintech partners. In fact, Axiom Bank, Quaint Oak Bank, and Griffin are currently leveraging Cable to manage their fintech partners.

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Photo by Snapwire

https://finovate.com/cable-raises-11-million-to-help-reduce-financial-crime/

https://finovate.com/finovatespring-2023-sneak-peek-lucinity/

A look at the companies demoing at FinovateSpring in San Francisco on May 23 and 24. Register today and save your spot.

Lucinity Copilot, the ultimate tool for streamlined workflows, enhanced compliance, and personalized user experiences, empowers the fight against financial crime.

Features

• Confident compliance: Safeguard against financial crime with advanced measures
• Increased efficiency: Streamline processes, save time, and reduce manual effort
• Tailored experience

Why it’s great

Revolutionize financial crime prevention with Lucinity Copilot, the ultimate tool for confident compliance, increased efficiency, and personalized experiences.

Presenters

Gudmundur Kristjansson, CEO & Founder
Kristjansson is a tech entrepreneur, thought leader, and pioneer in compliance & risk management. As the Founder of Lucinity, he is driving social change through innovative technology solutions.
LinkedIn

https://finovate.com/finovatespring-2023-sneak-peek-lucinity/

https://finovate.com/open-banking-infrastructure-innovator-axway-acquires-e-invoicing-specialist-advalvas/

• Open Banking infrastructure company Axway has acquired Belgium-based e-invoicing specialist AdValvas.
• The acquisition brings new invoicing and compliance capabilities to Arizona-based Axway.
• Axway made its Finovate debut last year at FinovateSpring in San Francisco.

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Open Banking infrastructure company Axway has made an overseas acquisition. The Arizona-based fintech acquired AdValvas, a Belgium-based e-invoicing processes specialist. The purchase underscores Axway’s status as a leader in B2B integration and EDI and brings new invoicing and compliance capabilities to the firm. These new capabilities include embedded support for Peppol and French VAT reform – as well as other B2G (business-to-goverment) and B2B e-invoicing mandates around the world.

Neither Axway nor AdValvas disclosed the amount of the transaction.

The acquisition comes at a time of greater regulatory interest in e-invoicing. Regulators are debating new requirements for B2B invoicing in France. In the EU overall, B2G e-invoicing is currently mandatory for all public procurements. The trend toward Continuous Transaction Control provides additional impetus for firms to embrace e-invoicing.

“AdValvas has been at the forefront of Peppol and e-invoicing for the past decade, helping steer the direction of invoice compliance around the globe,” Axway CEO Patrick Donovan said. “We are thrilled to welcome AdValvas and look forward to leveraging their deep expertise to help our customers navigate the delicate compliance waters ahead.”

Michel Gillis, formerly CEO of AdValvas, will serve as VP of e-invoicing with Axway. He called the acquisition a “significant milestone” in AdValvas’ “growth journey.” Going forward, AdValvas will operate as an Axway subsidiary. The company’s products and services will be integrated into Axway’s B2B Integration platform.

Axway made its Finovate debut a year ago at FinovateSpring in San Francisco. At the conference, the company demoed how its Open Banking technology enabled the secure sharing of financial data across digital ecosystems. Axway offers configured open banking APIs; an intuitive, collaboration-friendly developer experience; and pre-configured consent management integration to minimize risk.

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Photo by Paul Deetman

https://finovate.com/open-banking-infrastructure-innovator-axway-acquires-e-invoicing-specialist-advalvas/

https://bankautomationnews.com/allposts/retail/first-citizens-to-capitalize-on-svb-tech/

First Citizens Bank today announced plans to up its tech focus by leveraging capabilities acquired from its March purchase of the failed Silicon Valley Bank.    The $214 billion First Citizens Bank (FCB) will integrate Silicon Valley Bank’s (SVB) technology with its own processes, with further integration plans to be detailed later, FCB Chairman and Chief […]

https://bankautomationnews.com/allposts/retail/first-citizens-to-capitalize-on-svb-tech/

https://finovate.com/goodlord-partners-with-open-banking-platform-tink-to-enhance-tenant-reference-checks/

• U.K.-based renttech company Goodlord announced a partnership with open banking platform Tink this week.
• Goodlord will leverage Tink Income Check to help landlords enhance their reference checking process.
• Headquartered in Stockholm, Sweden, Tink is a two-time Finovate Best of Show winner.

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Goodlord, a renttech platform based in the U.K., has announced a partnership with open banking platform Tink. Goodlord will use Tink Income Check as part of its effort to modernize its tenant application process. The technology will also help Goodlord enhance its fraud protection for both agents and landlords.

Tink Income Check will enable Goodlord to bring real-time data directly from tenant bank accounts to its reference checking processes. With the consent of the renter, landlords will be able to verify income from salaries, pensions, and more going back 12 months or longer. Tink Income Check also optimizes approval rates and reduces both fraud and application abandonment. The technology serves as an alternative to the standard affordability check.

“We’re very pleased to be partnering with Tink on our open banking capabilities,” Goodlord Referencing Operations Manager Nicola Harding said. “We’ve long been advocates of open banking technology. It plays a crucial role in both modernizing the process for tenants, while also protecting agents and their landlords from fraud.”

Founded in 2017, Goodlord was launched to help smooth the process of renting properties – for all parties involved. By 2020, the company had processed one billion pounds via its platform. A year later, Goodlord announced that it had 1,000 agency customers. The company’s technology works along with the landlord’s or agency’s CRM to manage the entire tenancy process – from offer letter to rent collection.

“In the current climate, it’s more critical than ever to have an up-to-date and comprehensive view of tenants’ finances, to know they can comfortably afford the rent,” Tink’s U.K. Banking & Lending Director Tasha Chouhan said. “It also ensures those renters whose income payments are irregular, such as the self-employed or those working in the gig economy, have a fairer chance to secure a rental property.”

A two-time Finovate Best of Show award winner, Tink most recently demoed its technology at FinovateEurope 2019. This year alone, the Stockholm, Sweden-based fintech has announced partnerships with credit provider Younited, Italian fintech ConTe.it Prestiti, and Finland-based Multitude Bank.

Visa acquired Tink in 2021. CEO Daniel Kjellén co-founded the company in 2012.

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Photo by Miguel Á. Padriñán

https://finovate.com/goodlord-partners-with-open-banking-platform-tink-to-enhance-tenant-reference-checks/