DKB cooperates with FinTecSystems for the first fully automated instant loans

The DKB issues instant loans fully automatically from November on-line. To do this, it cooperates with FintecSystems and can therefore also provide smaller loans in the future.

When the Munich-based B2B startup FintecSystems was launched in 2014, the founders had exactly this type of cooperation in mind. The DKB, which has almost 4.5 million end customers, will in future grant instant loans online. The entire process runs digitally, the money can be paid out in a few minutes, a bank advisor no longer looks at the request. The cooperation partners speak of the “first fully automated online loan” in a message.

FintecSystems provides the account data analysis for the credit check, and the signature is also digital. Customers can securely grant insight into their accounts via the system; in the past they would have had to submit their account statements manually. Companies such as Santander, Check24 or N26 also use FintecSystems.

But the cooperation with the DKB is something special for the startup. “It is the first time that a bank has used the fully automated process,” says FintecSystems co-founder Dirk Rudolf in an interview with Finance Forward. “For us this is one of the most important collaborations so far and a real game changer.”

“The automation of loan applications is a logical step in the context of digitization and the rapidly changing customer requirements,” said DKB private customer board member Tilo Hacke in a message. Automation will make the loan application process more efficient – so it will also pay off for the bank to offer smaller loans in the future.

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