I-Finance Services specializes in loan servicing, customer acceptance and financial management. The loan servicing aspect of their business includes white label loans, portfolio management, credit ratings and legal collections. According to the official press release, their credit scores are flexible and tailored to the needs of their customers.
I-Finance Services also specializes in the development of full service custom application portals for businesses in the banking, insurance, energy and mortgage lending industries. To meet the wishes of their customers, the personalized portals of I-Finance Services are fully configurable.
The heart of I-Finance Services’ financial management is the I-Finance invoicing platform (IFP). Customers determine the settings, for example whether to choose automatic billing by post or e-mail or whether they want to use direct debit.
I-Finance Services’ customer acceptance services are suitable for organizations that take financial risk when offering their services to their customers. These organizations provide services where clients often secure payment for services through future monthly installments.
The partnership between Nordigen and I-Finance Services
By partnering with Nordigen, I-Finance Services has further enhanced its loan management solution (consumer loans and loan administration management) in the Netherlands. Since Nordigen has access to data from over 2,300 European banks in over 31 countries, they are now able to offer I-Finance services also to customers in the rest of Europe.
Integration with Nordigen provides I-Finance services with Open Banking connectivity, facilitating comfortable and secure data sharing between customer and financial institution.
In early 2022, I-Finance Services partnered with Buddy Payment and their free Buddy app. The Buddy App puts fixed costs aside and gives an overview of the budget that can be spent freely. It also automatically saves for users. The collaboration contributes to their goal of operating in a reactive, but more preventive way.
The acquisition of Nordigen
In July 2022, Nordigen was acquired by GoCardless, a direct bank payments provider, integrating Nordigen’s Open Banking connectivity into its account-to-account network.
The acquisition means the fintech will provide free Open Banking connectivity at scale, opening up self-service access to Account Information Services (AIS) to everyone. Additionally, its suite of premium data products helps improve results across a range of use cases, from credit scores to customer engagement.
Open Banking is a one-of-a-kind technological shift that has spawned a market of over $400 billion. In-house Open Banking connectivity helps companies improve payment functionality, roll it out to more markets, faster, and develop new products and features.