Algoan, the start-up revolutionising access to credit, is taking things even further by making its Credit Scoring and Payment Scoring models available on a self-service basis – a first on a global scale.

Algoan has been on a mission to make access to credit fairer and more responsible since 2018. Rather than this being based on – what can be extremely discriminatory – credit agency or sociodemographic data, Algoan uses the applicant’s Open Banking data for an instant risk analysis that is both more effective and more accurate. This innovative solution is already popular with banks, fintech, and retailers in France and Europe.

A new turnkey solution designed with fintech in mind

The advent of BNPL (Buy Now Pay Later/Split payments) means many fintech need to better manage the credit risk of this payment method, which is delivered without in-depth risk analysis. They also need to predict how its regulation will develop.

Algoan’s self-service solution has these fintech in mind. It enables them to embed credit and payment scoring solutions by API for their immediate and autonomous use.

Simply logging onto the Algoan website gives direct access to the products which can be embedded via API during the purchasing process. This empowering technology will make instantaneous risk analyses possible using Algoan’s algorithms.

Miguel Diguet, CEO and Co-founder of Algoan says,

“As part of our ambition for fairer, more responsible credit, it was vital to provide BNPL organisations and financial institutions with a simpler means of embedding a Credit Scoring solution into their checkout process. We are convinced that Open Banking is the best tool to prevent non-payment and protect consumers from overindebtedness. We’re giving these businesses the chance to try our solutions for free so more companies can benefit from it.”


Risk analysis without borders

This self-service offering available via API effectively removes any borders from the data processing related to credit risk analysis. Businesses can use Algoan’s solutions on a global basis without incurring extra implementation costs for use cases in new markets. What would have taken several months and hundreds of thousands of euros to implement can now be deployed in a few weeks, and at a lower cost. A significant innovation for the financial sector.

This means credit risk analysis is set to become global thanks to Open Banking and Algoan’s solutions.


About Algoan

Algoan is a fintech revolutionising the credit sector by making it fairer and more responsible.

Europe’s leader in Credit Scoring API, it provides fintech, retailers, and financial institutions with credit decisioning tools that can be embedded via a programming interface into processes for BNPL, credit origination, car subscription, and even mortgage.

Based on Open Banking (the secure sharing of credit applicant bank data), Algoan solutions allow you to cut credit risk by up to a half(1), increase approved loan applications by 40%(2), lower processing costs, and offer a seamless 100% digital pathway.

Algoan works with many credit and payment organisations (Cofidis, Oney, Solarisbank, Alma, Pledg, Premista, Cazoo…) and well-known partners (Sopra Banking Software, Provenir, Tessi…).

(1) iso-acceptance
(2) iso-risk