The product offers customers residing in Germany digital instant loans of up to EUR 35,000 with immediate pay out. In accordance with the bank’s modular approach, the loan, as well as the banking backend, are provided by solarisBank via API. smava is responsible for the management of the application process, the credit assessment and the credit management.
With a modular plug and play approach, the Germany-based bank offers the banking services the customers need, and is able to integrate elements such as its own application process into the new product, whilst receiving the components needed to complete the Kredit2Day product via API.
The two partners aim to address the interest fee issue, making it easier for people who overdraw their account and still have to pay up to 12% interest. With smava, solarisBank is adding another corporate partner to its banking platform; the tech company has entered a total of 56 cooperations to date.
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