back Back

Algoan and Sopra Steria strengthen their partnership to accelerate financial inclusion

By Edlyn Cardoza

September 22, 2022

  • Algoan
  • API
  • BNPL
Share

Sopra Steria, Sopra Steria Ventures, Algoan, FinTech, Credit Scoring, Sopra Banking Software, Financial Institutions, Credit Risk, BNPL, PSD2, Platformisation, API, USASopra Steria, via Sopra Steria Ventures, has invested in Algoan, the leading French FinTech in API-based credit scoring. Sopra Banking Software (SBS), a key technology partner to more than 1,500 financial institutions worldwide, will leverage this industrial partnership to accelerate its capacity to offer more inclusive and responsible access to credit. With Algoan, SBS can offer its clients the opportunity to enhance their ability to manage credit risk, thanks to a financial behavioural score.

“We are very excited that our ambition to make credit more accessible and responsible is shared by Sopra Banking Software. Their investment in Algoan marks the beginning of a great collaboration, which will offer a new axis of development without frontiers to the Credit Scoring API,” adds Michael Diguet, CEO at Algoan.

Based on Open Banking and its secure framework, and thanks to the use of technologies in the field of artificial intelligence and machine learning, Algoan offers an alternative scoring model, democratising access to credit, particularly for profiles that do not meet the classic “stability” criteria. The aim is to simplify the application process for consumer credit and reduce the “time-to-yes”.

Sopra Banking Software can deliver an end-to-end value proposition thanks to the global richness of Sopra Steria’s industrial ecosystem, from designing customer journeys to implementing technical solutions, guaranteeing an optimal user experience.

With Algoan, SBS is taking a step further in its ability to support banks and credit institutions in their ambitions to offer market-adapted and ethical credit offers. Through this partnership, SBS consolidates its strategy of platformisation based on synergies with the best FinTech on the market. Together, they will contribute to enriching SBS’s Open Banking Platform with new use cases enabled by PSD2, such as Credit Scoring, Credit Insights, or Buy Now Pay Later.

“We are delighted to participate in building inclusive and innovative financial services alongside Algoan. We help banking and financial institutions on a daily basis, enabling them to provide answers to all their customers without exception, thanks to products adapted to their needs. On a global scale, we are participating in the development of the European financial ecosystem for the benefit of the economy and society in general”, says Yann Metz-Pasquier, Head of Open & Digital Banking at Sopra Banking Software.

Previous Article

September 22, 2022

3 promising InsurTech companies in Australia

Read More
Next Article

September 22, 2022

PPRO expands in Malaysia with integration of Grabpay and Touch ‘n Go

Read More










IBSi Daily News Analysis

Wealth management, HNIs, HNWIs

June 02, 2023

Algoan

How wealth management firms can grow revenues in a declining market

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 02, 2023

Barclays invests in new working capital tech for corporate clients

Read More

June 01, 2023

5 Companies leveraging AI to transform the future of FinTech

Read More

May 31, 2023

Prosper appoints new Chief Marketing Officer

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q1 2023

£1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q1 2023

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q1 2023

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q1 2023

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022