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25.07.2016 Warsaw, Poland: Kontomatik announces Financial Health Indicator (FHI), a lightweight solution engine for powerful credit assessment. The tool works in conjunction with Kontomatik Banking API, a connection to more than 100 banks that is already available in 9 countries. Kontomatik Financial Health Indicator is designed to serve small and medium size lending companies, as those often distribute the loans with none or poor credit assessment. With the help of FHI online lending companies will be able to benefit from detailed financial assessment of their clients. Hence the operating risks for them will be lower.
Currently, Financial Health Indicator is available for instant deployment in Poland, Czech Republic, Spain, Mexico, and Russia. It is planned to add UK, Portugal, and Brazil to FHI’s coverage by the end of 2016.
Financial Health Indicator is a sophisticated algorithm that returns the results in a very simple output. It assesses the healthiness of a user’s banking data on a scale from 0 to 100, and, an online lending company is capable of stating its acceptance score.
To perform the assessment FHI evaluates a few types of financial data: average monthly income, total account balance, an age of the account and its richness. Next to this, FHI also considers the sum of loans granted by other lenders.
Kontomatik Financial Health Indicator is likely to become an essential element of an online lending company as it is simple, yet powerful, can be integrated very easily and, finally, it works with a speed of light.