Flow and Grow: Collenda launches new Open Credit 4.0 platform

The modules in the Open Credit 4.0 platform are all available as cloud-based SaaS (Software as a Service) applications. Financial institutions and companies using the new solutions can link them securely and easily to existing systems via programming interfaces, known as APIs. Rapid and user-friendly implementation is an essential cornerstone of the new solution.

Open Credit 4.0 also uses artificial intelligence and machine learning to provide the very latest in process support. Smart algorithms optimise workflows and ease the burden on staff. The power of these new technologies can be harnessed, for instance, when restructuring receivables and loans. For example, the term of a loan or the instalment amount can be adjusted for each specific case on the basis of historical data and individual components. Furthermore, artificial intelligence can be used in the direct end customer interface, such as chatbots that can respond to customers’ questions and problems.

A key factor of the Open Credit 4.0 package is its user-friendliness, both for the user and for the customer. The solution supports multi-channel use and has been developed specifically for use on mobile devices.

Collenda CEO Hartmut Wagner is keen to stress that: “Efficiency, efficacy and user-friendliness are the key factors that will shape credit and collections management in the coming years. Our Open Credit 4.0 solutions provide our partners with applications that combine the latest technologies with an outstanding level of user convenience. The cloud-based infrastructure and new machine learning and artificial intelligence features facilitate flexibility as well as smart process optimisations that relieve the burden on employees and improve customer satisfaction. We insist on putting the needs of the customer first and so customers are completely free to decide how they wish to use our solution: in their data centre, as SaaS or as a hybrid solution.”