Kreditech Success Story

03 Oct 2017 | Share

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

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.

Takeaways from this Case Study

The Challenge

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

The Solution

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

Proven Benefits

Running fast analytics has already translated into a positive return on investment Ad hoc reports

Easy-to-create, powerful visualizations and dashboards  using Tableau

streamlined database architecture, support programming in “R” and 24/7 availability of the solution

Deployed as a cloud solution, Kreditech profits from substantially reduced maintenance and administration overheads