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Back Interview

Interview with Aitor Chinchetru Perez, CEO of

Posted 2016-05-11 by Konstantin Rabin

Recently Kontomatik banking API technology was adopted by a consumer lending company in Spain – Wanna. We interviewed its CEO and Founder, Aitor Chinchetru Perez to let you learn more about Wanna, consumer lending in Spain, and the benefits of using a banking API technology.

Hey Aitor, could you briefly describe your background and your role in Wanna?

Aitor Chinchetru (1)

I’m currently Founder and CEO at Wanna.

My background is based on an 18 years professional career, with both “fin” and “tech” expertise. I studied Telecom engineering in the 90s, spent 7 years at Sun Microsystems, then took an executive MBA at IESE Business School and moved to the management consulting world, spending almost 8 years at McKinsey & Company, most of them focused on Retail Banking and Risk Management. I´ve served financial institutions in Europe, USA, Latin America and Africa.

Let’s talk more about How did it get started and what are your core services?

Wanna was founded in April 2015, starting its operations in June 2015 and launching online in October 2015.

Wanna is a consumer finance company. Our goal is to open a new space in consumer lending, halfway between the traditional banks and the “last resource lenders”.

Our product offering and pricing are closer to banks and finance companies, while our underwriting process is pure online (paperless, less than 3-minutes).

We offer consumer loans to individuals, self-employed and Small Businesses, ranging from 1.000 € to 6.000€ with maturity dates ranging from 6 months to 30 months.

What are the main objectives of for the year 2016?

Our goal for 2016 is to stabilize the company and grow fast.

During last Quarter of 2015 and first Quarter of 2016, we have proven the main components of the business model: demand, pricing, risk models, underwriting process, client servicing, invoicing, collections, etc.

Therefore, 2016 is time for growth. We are currently sustaining a +20% monthly growth, that we expect to maintain during this calendar year.
Additionally, we will explore the development of new products and segments.

How important is it to use a banking API in the online lending environment?

Using a banking API is key to our underwriting process, as it allows us to confirm the client identity received the information received from the Bureau and provides us with valuable information to complete the client profile.

Recently you have started with Kontomatik. What were the main reasons for selecting exactly this API?

There are 3 main criteria that we established to select a Banking API:

  • Number of banks covered
  • Speed in data download
  • Platform stability

During the RFP process, Kontomatik proved that could cover all 3 criteria effectively.

How difficult was it to integrate Kontomatik?

The integration process was quite easy, completed in the range of weeks, not months. During the RFP process, Kontomatik provided a test environment that was very helpful to test the platform and develop an effective integration process.

Coming back to, what is your overview on geographic expansion?

Our footprint is currently Spain, given that we have less than 1 year in operation. Nevertheless, we are already exploring with our partners a potential expansion plan in other European countries and eventually Latam.

Considering that your core operations are located in Spain, how would you assess the overall state of the online lending market in this country?

Consumer lending suffered a large deleveraging process in Spain through the Crisis (2009-2013), where the balance was reduced in 50 billion €. In this period, many finance companies left the business or reduced their operations radically.

During the post-crisis period, both banks and financial specialists are coming back to business, although still with a cautious approach. Only since mid of 2015 we have seen more intense competition in pricing and risk taking.

Going forward, we expect a fierce competition both from traditional banks, consumer specialists and new entrants.