Reloan: Tackling Sweden's high household debt levels through responsible lending and digital innovation
TL;DR
Reloan’s partnership with Näktergal has enabled them to offer a much-needed product to help people in Sweden tackle their financial difficulties. Their commitment to responsible lending and focus on customer well-being has resulted in a successful product that benefits everyone.
Reloan's innovative credit offering powered by Näktergal's core banking system
Sweden’s borrowing market is growing rapidly, leading to one of the highest household debt levels globally. However, Reloan has stepped up to address this financial issue. Founded by Carl Weijerman and Douglas Christenson, Reloan offers loan consolidation services to people facing financial difficulties. Their mission is to help individuals improve their financial situation and achieve financial stability.
Reloan’s approach is considered and responsible, focusing on reducing customers’ debt burden and increasing their control over their finances. They help customers consolidate multiple high-interest debts, such as credit card debt and personal loans, into a single loan with a lower interest rate and more manageable monthly payments. Moreover, the company ensures that customers do not borrow more money, allowing them to pay off existing loans without getting into further debt.
Reloan develops services to reduce customers’ debt burden and increase their control over their finances. They help customers by reducing their number of monthly payments, lowering monthly payments, and keeping track of their debts.
Delivering a secure and unified digital experience through risk profiling
Reloan selected Näktergal’s core banking system, running from the Azure cloud as a SaaS, as the perfect option to deliver this necessary product. Näktergal’s scalable and automated system helps Reloan accurately assess each applicant’s risk profile, giving customers a lower interest rate, reducing monthly repayments, and allowing them to pay off their debt sooner.
Reloan’s own app, backed by Näktergal’s system,provides customers with a secure, unified digital experience. The app offers a flawless customer experience, huge scalability potential, and high automation. It even integrates with other tech to efficiently and accurately assess an applicant’s risk profile.
Reloan’s ultimate goal is to help customers improve their financial lives by reducing indebtedness, increasing control over their finances, and making a plan for their financial future. With Näktergal’s system, Reloan launched this powerful product, building its own credit proposition. Co-founder Carl Weijerman believes that Reloan’s product, backed by Näktergal’s digitized core banking system, delivers precisely what customers need. He hopes to help customers find a way back to a functioning private economy by reviewing their current situation, paying off debts with better terms, and creating a plan for the future.
The scalable nature of Näktergal’s products makes it an ideal match for Reloan’s ambitions. From managing the customer ledger to reporting documents and integrating with other third-party providers, Näktergal’s core banking system paves the way for scalable and automated credit systems configured precisely to our client’s needs.
Highlights of Näktergal's consumer lending system
- Scalability and automation: the system is scalable and highly automated.
- Customisation through configuration: providing lots of flexibility through configuration and the system integrates with other third-party providers easily.
- Secure and unified digital experience: Reloan’s own app, backed by Näktergal’s system, provides customers with a secure and unified digital experience, making it easy to manage their finances.
The challenge
How can a secure, unified digital experience be delivered through an app that accurately predicts risk? That’s the question the Reloan team has been asking as they strive to help customers to improve their financial lives with best-in-class technology. With Näktergal, it seems like they’ve found the answer.
Reloan’s goal is clear – they needed a core system provider that understands the market to flawlessly power their innovative credit offering.
The solution
Using Näktergal’s system, Reloan launched this powerful product in May. Powered by Näktergal’s core banking system running Azure cloud as a Saas, Reloan is building its own credit proposition to help its customers improve their financial lives. Their goal is to reduce indebtedness, help customers increase control over their finances, and make a plan for their financial future.
“We deliver a product people need, supported by Näktergal’s digitized core banking system,” says Carl Weijerman, Co-founder of Reloan. “Over the last few years, we’ve seen an explosion in the credit market, and until now it has not fully delivered what customers need. People have struggled with debt collection, expensive loans, and a history of payment remarks. We want to help them find a way back to a functioning private economy. To do this, we review our customers’ current situation, pay off the debts where we can offer better terms, and make a plan for the future.”
Does this sound interesting?
Are you ready to experience the power of a scalable and automated core banking system that configures to your needs? We’ve put over 50,000 hours into developing our system and have a history of success. Book a demo with Näktergal today and discover how our core banking system, running on Azure cloud as a SaaS, can help you deliver a seamless and secure digital experience to your customers, while minimizing risk and maximizing efficiency.
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