Consumers in Poland can now take a 100% online banking loan via the first independent loan platform – FinAi which is available at sklep.finai.pl. The solution created by the Polish fintech provides customers with access to real offers from banks, allows them to conveniently choose the loan best suited to their needs and to sign an agreement without the need to leave home or without courier visits. On the other hand, thanks to FinAi, banks can effectively and securely sell their loan products in the digital channel.
The unique concept of the platform is based on close cooperation between FinAi and the banking sector. At the conceptual stage, we conducted detailed analyses of customers’ needs and behavior, as well as the solutions and sales models operating on the loan and payday loan market. As a result, we designed a simple, safe and fully online banking loan process that meets the expectations of customers and banks – says Rafał Czernik, CEO of FinAi.
To take a loan via FinAi, customers just need their ID and a smartphone with iOS or Android. The process is user-friendly and can be completed in a few simple steps without leaving your couch.
Unlike solutions operating on the consumer loan market, such as online loan comparison sites and aggregators of loan offers, FinAi platform ensures a truly fully digital loan process – from customer verification through selection of real offers prepared based on the customer's creditworthiness to signing an online agreement with the bank.
At FinAi we offer one simple online application form, in which you only need to fill in a few fields to receive tailor-made loan offers from banks. Then customers simply choose the best offer for themselves. What is important, the whole process – including the conclusion of the agreement with a bank – is done 100% online on our platform without the need for telephone conversations with consultants or sending documents by e-mail – says Rafał Czernik.
The solution developed by FinAi focuses on the convenience and tailoring loans to the actual needs of customers, taking into account all the information required by banks to assess their creditworthiness. Therefore, customers are accompanied throughout the loan process by the first automated advisor in Poland, who explains any doubts and helps to adjust the product to the individual customer’s needs. Customers receive, among others, information on their creditworthiness as well as advice on optimal loan parameters and actual loan costs.
The highest level of the platform’s security is guaranteed by advanced identity verification and anti-fraud mechanisms, utilizing self-learning machine learning and deep learning systems (biometrics, image recognition using neural networks).
Data science solutions are the integral part of the platform architecture, which was created using best practices applied in the banking and e-commerce sectors. Data analysis is integrated into almost every FinAi’s process, from security to the platform’s UX and performance marketing activities – says Łukasz Dziekan, CTO of FinAi. One of the pillars of our competitive advantage is the fact that we are able to translate our rich competences in data analytics, machine learning and AI into real business solutions, which have not been available on the market yet – adds Łukasz Dziekan.
The modular and scalable nature of FinAi’s platform, allows financial institutions to easily integrate and requires minimal implementation costs. The high degree of process automation makes it one of the most profitable distribution channels enabling banks to accurately manage operational and credit risk. Thanks to equipping the platform with modern analytical tools (business intelligence), banks also obtain detailed data on the online sales conducted through FinAi and gain access to services supporting remote sales.
FinAi's advantage is its transparent business model. The company provides clients with a free-of-charge access to the platform, while banks are charged a fixed fee under an agency agreement. FinAi is an independent entity which is not affiliated with any financial institution, assuring that all partners on the platform are treated equally and that customers are provided with a tool which allows them to conveniently adjust the loan to their individual needs.
We enable our clients to take a banking loan of up to tens of thousands of zlotys as easily as taking a payday loan, at the same time ensuring safety, compliance with sector regulations and lower costs than in payday loan companies. The banks that first completed the integration and entered the platform are Inbank and Nest Bank, and in June they will be joined by other banks. We plan to have 6 banks on the platform by the end of the year – says Rafał Czernik.
He adds: We are creating a new quality for banks and customers and we have the ambition to become a leading player in the market of online loan intermediaries in the next three years.
From the very beginning, Inbank's goal has been to provide its customers with simple banking, enabling them to use our services quickly and without unnecessary paperwork. Inbank's loan offer is created with their comfort in mind, making it easier for them to use banking products. We want our loans to be available faster, more conveniently and more easily, which is why our offer could not be missing on FinAi’s platform – says Maciej Pieczkowski, General Manager of Inbank Polska. Online, is our main distribution channel, therefore FinAi platform is an ideal place for us to cooperate, and for customers another place where they will conveniently take advantage of our offer – adds Maciej Pieczkowski.
In 2017, more than 70% of the Nest Accounts were opened via online channels. This puts us among leaders in winning customers in online processes. Currently, in cooperation with FinAi, we have decided to transfer our experience in personal accounts to the loan process – says Bartłomiej Babicz, Managing Director of Retail Banking at Nest Bank. We have become FinAi’s partner from day one and will be among the first to offer the possibility of taking a loan through their platform. We are convinced that thanks to our experience, we will meet expectations of customers who appreciate the convenience of obtaining loan end-to-end online – adds Bartłomiej Babicz.
FinAi's communication will be based on the creative platform called "the first online store with banking loans", which refers to the possibility of choosing a bank loan tailored to the individual needs of consumers, in the same way as choosing products from the shelf. Advertisements leading to the FinAi platform https://sklep.finai.pl/ will be displayed in affiliate networks, Google search engine and social networking platforms. Communication will be supported with mailing, direct partnerships and own channels. Creation and performance marketing activities are carried out entirely "in-house" by FinAi's marketing team, which uses advanced analytical tools to ensure maximum effectiveness of communication and reduction of conversion costs.
FinAi's strategy is to enter partnerships with entities from the financial and e-commerce sectors and gradually expand its portfolio with products meeting customers’ expectations and banks’ business needs. In 2020, the company plans to grant via the platform loans of value exceeding PLN 1 billion. The launch of the service on the Polish market is a step towards entering other European markets. FinAi is a Polish technology company from the financial sector, established in 2016. The company employs 50 experts from the areas of banking, IT, Data Science and marketing communication. FinAi is a member of the Conference of Financial Companies in Poland. FinAi’s investor is Fidiasz Fund, owned by Krzysztof Domarecki, the founder of the Selena Group. The company received PLN 7.3 million in funding from the National Centre for Research and Development for a project to create a credit risk model using alternative data sources.
More information about FinAi:
Contact for the media: Janusz Wróblewski, FinAi – firstname.lastname@example.org, mob. +48 500 810 450