A technology platform that enables banking based on algorithms and big data scoring

Kreditech offers tailor-made financial products and services to consumers who do not have a credit score. To enable a fast decision-making process based on an applicant’s behavior online, Kreditech has built its innovative solution using EXASOL and Tableau Software.

EXASOL and Tableau simplify our business operations considerably, and the fast analytics we can now do have already translated into a positive return on investment.

Sebastian Ranzinger, Head of Business Intelligence at Kreditech Holding SSL GmbH

  • About Kreditech

    About Kreditech

    Kreditech has a clear objective: to offer tailor-made financial products and services to consumers who do not have a credit score. As a result, the high-growth, Hamburg-based company has developed technology that uses Big Data and complex self-learning algorithms, and has rolled it out across nine subsidiaries around the world. Using alternative data sources - some 20,000 data points – Kreditech’s solution can decide whether a customer should be offered credit or not. Innovative in its approach, the technology enables a great degree of prediction: algorithms make decisions on issuing credit that are based on observations.

    Whereas traditional credit scoring models (e.g. FICO) are solely based on pre-calculated hypotheses, Kreditech’s proprietary technology takes just seconds to calculate whether credit applications are accepted or denied. To process these large data volumes efficiently and to enable a fast decision-making process based on an applicant’s behavior online; Kreditech has built its innovative solution using EXASOL and Tableau Software.

    Industry:Banks
    Application:Financial reporting, Operational performance report, Scoring
    Database:EXASOL , PostgresSQL
    BI tool:Tableau
  • Challenge

    Challenges

    • Complying with international financial reporting standards and regulations, basing all decisions on data
    • Required a sophisticated system that would allow data to be available for analysis to drive decisions
    • Legacy database could not respond to the demands of the business as company grows in size
  • Solution

    Why EXASOL?

    • Easy and quick to use as well as configure and implement
    • The combination of EXASOL as the data warehouse and Tableau as a data visualization layer on top was a solution that appealed to the team immediately
    • Using EXASOL, Kreditech’s analytic queries now run in just under two hours, which is a dramatic improvement on the 24 hours they took to run previously
  • Benefit

    Benefits for Kreditech

    • Running fast analytics has already translated into a positive return on investment
    • Ad hoc reports can be run at any time
    • Easy-to-create, powerful visualizations and dashboards for management and marketing teams using Tableau
    • Ideal combination of a streamlined database architecture, support for the programming language “R” and round-the-clock availability of the solution
    • Deployed as a cloud solution, Kreditech profits from substantially reduced maintenance and administration overheads