International innovation award for loan processPublished 08 Feb 2021
In December, Dploy from Knowit and AS Financiering was named the winner of Best Adoption of Tools & Governance in Digital Lending at the annual IBSI Global FinTech Innovation Awards for 2020. The Norwegian contribution won in competition with 220 nominated projects from 52 countries and shows that Norwegian banks and FinTech are competitive on the international market.
IBS Intelligence has, for about 30 years, been the internationally most reliable source of FinTech news, research and consultancy services. The ISBI Sales League Table has been recognized as the best global industry barometer for the last decades. More than 5,000 banks in over 150 countries participate in the competition. The ISBI winners are evaluated in regards to, among other things, innovative ability, project execution, use of best practices and tools, adaptability, and documented results.
Strong market development after deployment
The new solution was deployed during the second quarter of 2020 and the results were immediate. AS Financiering has seen a strong increase in net sales, without having to increase staffing or work overtime. “We now have flexible and powerful tools in place to optimize our scoring and have a higher proportion of fully automated loan applications and payments than before,” says Espen Sollien at AS Financiering.
The digital loan solution from Dploy and Knowit contributed to a sales record and a doubled loan volume for AS Financiering on a competitive market. The lead time for loan applications has shortened to 2–3 minutes and a large proportion of the applications are managed entirely automatically.
About Dploy from Knowit
Dploy is a platform developed to automate management of loan applications. The platform is aimed at financing companies that offer leasing, leasing of plants or equipment to companies, sales financing/unsecured debts, mortgages, loans, credit cards, and other financial products to their customers. Customers and partners like retailers and agents can also get credit applications approved within just a few seconds.
About AS Financiering
AS Financiering is one of Norway’s oldest financing companies and a wholly owned subsidiary of Sparebanken Øst. The company specializes in car financing and also provides loans for motorcycles, RVs and boats. AS Financiering has its offices in central Oslo. The company has a nation-wide reach and distributes its products through retailers, the internet, service provides, and the banks of its parent company.