Contovista and NDGIT extend their cooperation to the German market to further develop Open Banking
Zurich/Munich, 9 April 2019
Contovista, Swiss market leader for data-driven banking and NDGIT, provider of the first API platform for banking and insurance in Europe, are further expanding their cooperation. In addition to a joint project for digital lending processes, Contovista can now also be implemented via the German NDGIT API marketplace.
After their successful cooperation for neon, the first independent account app in Switzerland, NDGIT and Contovista are now joining forces again. Goal is to redevelop the digital credit lending process of a German bank and thereby revolutionize the loan sector. NDGIT’s API platform uses Contovista’s Enrichment Engine to prepare account data of credit applicants using Machine Learning. Previously time-consuming process steps for creating the customer’s self-disclosure are thus automated so the application duration shortens to a minimum. In addition to time savings, relying on data exchange, there’s another decisive advantage: risks and fraud are minimized.
Results of previous projects confirm, processing and analysis of data have great impact on the credit business: Contovista technology increased completion rates of personal loans by 69% compared to the retail bank’s conventional sales methods.
Gian Reto á Porta, CEO and co-founder of Contovista, explains: “We are very pleased to have found NDGIT as a valuable, reliable and strategically perfect partner and to have already proven our competence in the area of data-driven banking in our first joint project”.
NDGIT API Marketplace gets growth
Contovista is now also part of the German NDGIT API marketplace and thus quickly and easily available for all banks already connected to the NDGIT API platform such as the “Bank für Sozialwirtschaft”.
Oliver Dlugosch, CEO NDGIT: “Contovista is a great enrichment for our API marketplace and we are very proud to have them as partners. We will only be able to keep our position as the #1 Open Banking Platform by constantly offering the latest, best and smartest applications for banks, FinTech and insurance.”
The NDGIT API Marketplace is a virtual collection of the best services for banks, FinTechs and insurance companies. The included service modules (similar to an appstore) can be individually selected and integrated into ecosystems with just a few clicks. In addition to NDGIT’s in-house APIs, other interfaces developed by leading specialists in the various FinTech segments are also available. More than 500 developers of the most innovative FinTechs implement the best-of-breed APIs with NDGIT. The middleware enables APIs to be easily combined, individualized and flexibly extended with new functions.
About Contovista — Delightful Banking
Contovista enables data-driven banking. Our white-label software and data analytics services allow financial institutions to optimize their digital banking experience and gain actionable customer insights. We help to understand, engage and serve customers better based on the enrichment of financial data and machine learning. This empowers organizations to increase customer retention and share of wallet. Contovista is headquarted in Zurich, Switzerland. www.contovista.com
About NDGIT
NDGIT stands for Next Digital Banking. The company provides a proven API platform for banking and insurance. Connecting banks and fintechs with digital ecosystems, its technology opens banks up to digital partners with Open Banking APIs and PSD2 solutions. The NDGIT fintech platform forms a technological backbone for new applications and IT landscapes in banking and insurance. NDGIT implemented Switzerland’s first open banking solution in 2017 and was awarded the Euro Finance Tech Award 2017 for the best collaboration between bank and fintech. In 2018 the NDGIT API platform won the CEE Fintech Challenge, the largest FinTech competition in Central and Eastern Europe.
