Kontomatik starts operating in the Philippines and Indonesia, with further expansion plans in the SEA region, as the first Polish company delivering new data source for alternative credit scoring based on financial transaction data to consumer finance and micro-lending companies in SEA.
Kontomatik solutions enhance the onboarding process of new loan applicants and provide loan applicant's banking data for alternative credit scoring. Lending companies or other financial institutions can seamlessly embed Kontomatik’s widget to their website or mobile app giving their customers an opportunity to safely authorize into their online bank or wallet and share their data for the loan application directly from the lending company's website or mobile app. The data extracted by Kontomatik includes personal information like name and surname, ID number and contact details allowing instant KYC and fraud prevention, as well as, account number, closing balance and transaction history enabling affordability calculation and identification of red flags e.g. gambling activities, loan loops etc.
On top of the raw transaction data, Kontomatik's technology enriches transaction data with labels allowing to get a better picture on loan applicant's income structure and spending behaviour. Further machine learning algorithms are applied to build a customer's financial behaviour profile. This profile is then used an extra data source for lending company's internal credit scoring model or as a standalone alternative scoring model for smaller companies with less developed analytical capacity.
Kontomatik is a fintech company with HQ in Warsaw, Poland and operates in 12 markets enabling access to banking data from over 130 banks in Europe and outside. Thanks to Kontomatik's technology, banks, consumer finance and micro-lending companies have successfully on-boarded over 8 million new loan applicants since the launch of this service in 2009. As a European Union (EU) based company, the data aggregation services meet the highest safety standards, Kontomatik holds ISO 27001 data security certificate and it is a licensed Account Information Services Provider (AISP) under Payment Services Directive 2 (PSD2) allowing to connect to Open Banking infrastructure as well. Finally, Kontomatik has strict personal data protection policies in line with the General Data Protection Regulation (GDPR) in EU.