Nordigen teams up with Entercard to boost credit assessment models
By Megha Bhattacharya
Nordigen has announced that it is partnering with Scandinavian credit market company Entercard to improve its credit assessment and scoring models through more detailed data insights. The partnership is expected to significantly increase the accuracy of the existing credit scoring models by adding new data points that capture customer behaviours related to spending. By enabling Entercard to gain additional insights from internal consumer spending data, its services will help the lender to make better lending decisions.
“Entercard is focused on being a responsible lender and improving the financial wellbeing of our customers. Partnering with Nordigen enables us to leverage our data to gain a much better understanding of our customer behaviour and their financial needs. More in-depth analysis of several millions of our monthly card transactions by our customers will also help us in making even better credit decisions,” says Entercard Chief Credit Officer Syed Moonis.
Entercard will use Nordigen’s data insights to improve lending services for their customers in Norway, Sweden and Denmark. Nordigen’s premium services will provide detailed analysis of transaction data and insights that will enable Entercard to better evaluate the financial status of both current and prospective card customers.
“Our payment data insights provide additional clarity at a time when lenders can no longer rely on just credit bureau data. Our technology combined with our expert team can quickly identify risk-critical behaviours, which is necessary for making smart lending decisions,” says Nordigen CEO and Co-founder Rolands Mesters.
IBSi Daily News Analysis
September 26, 2023
Omnichannel payments drive SME growth in MENA, study showsRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage