The lending process has a reputation for being long and tedious. Most of the time, the data requested from loan applicants still requires supporting documents to be collected and analysed. This can directly affect the accuracy of the risk analysis of certain applications and the time needed to make a decision on the loan.
Tessi helps lending institutions to digitalise their lending process through “DIGITAL BANKING by Tessi”, a platform that completely automates the process and outsources back-office services.
This partnership with Algoan allows Tessi to continue to innovate and simplify the lending process from end to end by integrating the fintech offer on its digital platform.
Algoan is the European leader in credit scoring by API, offering decision support tools that capitalise on Open Banking data and machine learning to establish a more effective risk analysis model. Its solutions are integrated directly by programming interface into the lending, car subscription, property loan or fractional payment processes.
Thus, the partnership between Tessi and Algoan will allow us to cover the entire lending process by:
- Simplifying customer journeys by offering a fully digitalized experience from end to end,
- Instantly categorising risk in a more refined way to identify indicators of risk,
- Automating risk analysis combined with a more accurate credit score (the most powerful on the market), halving credit risk,
- A tailor-made dashboard specially made for credit analysts to drastically reduce analysis time.
“This partnership with Algoan allows us to further expand the range of services we can offer our financial institution customers with an all-in-one solution. An optimised ‘Time To Yes’, an improved ability to lend to populations previously considered too risky, better risk control, a quick and smooth process…Everyone wins!” says Virginie Degeorgis, CEO of Tessi France.
“We are delighted and honoured that Tessi is using our Credit Scoring API as a significant part of a digitalised lending process. This new partnership anchors us even more strongly in the digital banking ecosystem,” says Michaël Diguet, CEO of Algoan.