Debt Consolidation

A faster and better way for debt consolidation players to assess refinancing requests.
Debt Consolidation

Easily onboard the applicants

Onboarding applicants who intend to consolidate their debts is a long process that requires lenders to interact several times with the applicants to gather information and necessary documents.
Lenders can smoothen this process for them but also for applicants by using Algoan Chatbot that helps lenders automatically gather the needed information and documents from applicants.
It also allows them to collect the applicant’s consent in order to be able to access its bank transactional data thanks to Open banking.
Algoan Chatbot credit journey incorporates Open banking data aggregation, KYC and electronic signature technologies to ensure a streamlined debt consolidation application journey.

chatbot productChatbotarrow

Retrieve all of your customer’s financial data

Algoan Credit Insights is a solution that helps lenders and brokers get all the data that matters within a few seconds thanks to Open banking.
Algoan Credit Insights automatically categorizes the applicant’s transactional data.
It also gives insights on the financial situation of the applicant by automatically calculating metrics such as the residual income and the debt-to-income ratio.
It also detects and tags some important risk markers such as credit line drawdowns, payment incidents, overdrafts, gambling behavior and seizures on bank accounts.

credit insights productCredit Insightsarrow

Get a digest of your applicant’s financial situation in one place

Algoan Dashboard helps lenders and brokers in the process of decision making while reducing the risk.
Algoan Dashboard is customizable and helps debt consolidation players in the process of analyzing an applicant’s situation.
It automatically shows all the ongoing loans that an applicant has with the details about each loan (monthly payments, dates of the payments, payment default, lenders, etc.) in order to help you easily assess the situation and find suitable financing options.

dashboard productDashboardarrow

Key benefits

Better customer experience
Thanks to Algoan Chatbot, it’s possible to offer a seamless customer experience while reducing the need to collect various information through forms or through documents provided by the applicants.
Process & data Automation
Algoan offers solutions that automate the debt consolidation processes as well as important financial data extraction (income, expenses, loans, etc.), which used to be done manually by operators/analysts.
Automatic cash flow analysis
Algoan categorisation technology allows automatic cash flow analysis by automatically detecting/calculating regular incomes, fixed expenses, loans as well as risk markers (gambling, overdrafts, payment incidents, etc.).
Fraud prevention & reliability
Since the data is directly retrieved from the bank account, The analysis of the applicant’s financial situation is objective. There is also no room left for fraud based on document falsification as Open banking data cannot be altered.

Are you ready to build the best Open banking credit experience with Algoan today?

Contact our sales team to learn more about our solutions and see how we can help

Contact Us