The project sponsor was Creditinfo CEE, which is part of the Creditinfo group. The group operates worldwide and is involved in financial inclusion, improving financial literacy and facilitating customers' access to the financial market.
The main products offered by Creditinfo are credit bureaus for financial institutions (banks and non-banking companies), thanks to which it is possible to ensure more equal access to finance for individuals and institutions around the world. The Creditinfo portfolio also includes decision-making products - such as behavioral scoring, socio-economic scoring, and applications that help companies better assess credit risk by using available client information resources.
It connects SMEs with banks by creating a "marketplace" where SMEs stand on the one hand and banks on the other. This may seem superfluous from a European perspective, but this application targets less developed markets, such as Africa. It helps to significantly reduce the risks associated with financing, right from the beginning of the contractual relationship. High risk caused not only by insolvency but also by credit fraud leads to high interest rates = high price of money in the market. Risk reduction (in the medium and long term) then has a direct impact on reducing the price of credit (interest) and increasing the availability of money in the market.
The application is based on a modern thin client solution on the front-end side and back-end application communicating using the REST API, ie the configuration of client-server communication.
The application is very simple in terms of construction and allows a large degree of flexibility and settings on the part of the client without the need to intervene in the application code. APIs are also used for communication to external services, in this case the Creditinfo system. The solution also includes payments through a payment gateway, enabling applications to be charged. The local payment gateway in the country of the final client was used.
