Worldline has signed a partnership agreement with RiskQuest BV, to provide best-in-class credit check processes specific to the Dutch market. Worldline and RiskQuest will join forces to create an open banking-based credit analysis. Specifically, it will address consumer, private and SME lending, and leasing in relation to the Dutch financial landscape. Through this partnership, Worldline’s Credit Insight solution will incorporate RiskQuest’s significant market expertise.
Connections with 3,500+ banks via a single API
Moreover, the partnership will further enhance Worldline’s Credit Insight solution, launched last year. Creating a credit risk analysis solution, available in a single API, provides a huge advantage as it eliminates the need for multiple connections and multiple formats from and towards many banks. This means that customers can connect to 3,500+ banks in 20 European countries through a single API connection.
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Besides this large open banking reach and all associated benefits, this solution offers several additional advantages. These include instant views of customer financial positions, affordability, and risks, directly from bank data. In turn, this significantly lowers the risk of fraud. And it helps financial institutions adapt to changes in how people bank, complexities driven by high inflation and interest rates, and the disruption brought about by fintech competition.
Clement Jozwiak, Head of Products Financial Services, Worldline, said: “We are excited to partner with RiskQuest to harness the synergies of Worldline’s open banking platform. This partnership allows us to deliver a best-in-class solution tailored to the unique demands of the Dutch market. Together, we share the ambition to revolutionise credit risk management, providing lenders, leasing providers and financial institutions with an efficient, innovative, and seamlessly integrated credit assessment experience.”
Hans Heintz, Director at Zanders Group, added: “We look forward to entering into this strategic agreement with Worldline. Our deep understanding of the intricacies of the Dutch financial system, combined with Worldline’s comprehensive open banking capabilities, positions us to offer an exceptional credit assessment product. Both companies are committed to empowering Dutch lenders with cutting-edge, secure, and instant credit insights. It paves the way for a transformative approach to credit risk management in the Netherlands.”
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