Strands teams up with credolab for smarter money management

By Megha Bhattacharya

Strands (CRIF Group) has announced a new partnership with credolab, the predictive alternative scoring provider. The company aim to provide a one-stop solution for banks looking to grow their top-line by helping people be smarter with their money.

By embedding credolab’s solution into the FinTech’s Personal Finance Management (PFM) software, this partnership enables any bank to make better and relevant product recommendations. Banks will be able to transform complex data into relevant customer insights with embedded risk assessment in real time.

Peter Barcak, Founder and CEO of credolab said: “We are delighted to welcome Strands to our growing partner network. Strands’ expertise in developing customizable digital money management solutions for banks will add great value to our clients globally. We are confident that our embedded technology will help Strands develop solutions to promote a more delightful way of banking that empowers customers with meaningful interactions, and makes them happier, more loyal, and more profitable.”

Recently, CRIF, a global company specialising in credit bureau, business information, credit and open banking solutions announced that the company has entered into a definitive agreement to acquire the total shareholding of Strands, a FinTech company specialised in advanced digital banking solutions. The closing of the deal is expected to be finalised soon.

Erik Brieva, CEO of Strands, commented: “By partnering with credolab, Strands is in a stronger position to deliver state of the art financial management solutions to banks worldwide. This collaboration will allow us to embed next generation scoring technology into our AI-driven product suite, meeting financial institutions’ increasing demand for smart, highly customizable, and scalable FinTech white-label solutions.”