"Fintech’s revolutionary advancements are not just impacting the financial industry. These have the potential to change the way we conduct transactions in all aspects of business. Finance has been one of the last areas of business to see disruption, but it is catching up quickly." - ‘Exploring 5 Trends Driving The Fintech Revolution’, Forbes.com
Do you have limited access to deep digital tech, but want to meet the digital customer expectation and offer credit online?
Are you bogged down by the complexity of financial regulations?
Is your available tech too slow, impacting negatively on conversion rates at the check-out stage?
Do you struggle with technical implementation and integration of payment options?
Do your clients – e-commerce and online travel portals – lose customers because of insufficient funds? Do they incur high drop-off rates at the check-out stage? Are your clients looking for online credit solutions that will increase conversion?
Using instant, continuous, lean, deep, dynamic tech and services, Briisk digitises your business and helps you rise to your clients’ digital expectations.
Digitise credit. Instant Tech.
With Briisk, you…
Get access to an instant credit solution
Get instant access to digital distribution channels
Get streamlined, tailor-made customer management
Get seamless solutions for the AI age
Your customers will love
To start the process, the customer’s ID is checked and credit checks are carried out at the credit bureau to ensure that the customer is in in good standing.
Having successfully passed the credit checks, the customer is reassured that the step that they are about to take in logging into their Internet banking is safe and secure.
Connect your bank
The customer enters their login details that they would usually use to log in to their Internet banking, which gives e-Fin access to their banking data. This is in order to carry out an affordability assessment, to determine whether the customer can afford the loan. Using global best practice technology to scrape/read bank transactions, this is a 100% secure connection and no bank log-in information is stored by e-Fin.
We are connecting to your bank account
e-Fin collects 3 months of transactions, whilst the customer enters contact details.
Confirm your income
The average recurring income over a 3-month period is then calculated and displayed.
Confirm your expenses
The customer’s recurring debit orders over a 3-month period are added to any additional expenses that the customer declares (i.e. expenses not picked up from the bank statement). Expenses are populated from two sources, the credit bureau report and the bank statements.
An advanced algorithm performs an affordability calculation and presents a National Credit Act regulated customer quotation, including monthly instalment amount, term, interest rate and fees. The Customer can accept the loan agreement via One Time Pin. Note that a bank Account Verification Service (AVS) is also performed during this step.
You are on the way
This is the final screen which indicates to the customer that they have successfully completed the process, and that they will receive an email containing their loan agreement. The full loan documentation is sent to the client and monthly instalments are automatically collected via debit order.
The merchant is sent an email confirmation that the purchased item(s) have been paid for by e-Fin, settled through an approved payment gateway directly to the merchant’s bank account. The merchant can therefore release the goods to the client and the transaction is thereby complete.
Click-and-transact, regulations-compliant, instant insurance API, with...
Click-and-transact instant credit API. Instant transactions.
Click-and-transact instant FX API. Instant transactions.