Client Reference: ALFAM innovates the credit process with open API
Info Support helped credit lender ALFAM (subsidiary of ABN AMRO Bank N.V.) innovate the credit process for distribution partners. Using an open API allows distribution partners to fully integrate the credit application process in their own systems. Info Support guided the entire change process, including the technical realization and implementation.
ALFAM needed a new credit process because of the growing complexity of the distribution chain, which was having an adverse effect on both costs and response time. At the same time, there has been a shift in the financial sector as a whole towards more openness, due in part to the introduction of the PSD2 regulation: a new guideline that prescribes that European banks must open up their payment details to third parties. By developing an updated vision on digital cooperation, ALFAM is innovating the credit process and wants to remain a leader in the financial sector. Consumers also expect transparency and quick service, in relation to credit applications as well. This requires close cooperation between the credit lender and the distribution partner, without making any compromises on customer privacy or information security.