ID Finance Launched Online Lending Service MoneyMan in Poland
On December 2015, MoneyMan financed its first loan in Poland through the company's website www.moneyman.pl. MoneyMan significantly reduces the costs of maintaining sales offices and a network of agents, focusing resources on developing IT-stack developing.
A key advantage of MoneyMan in Poland is its proprietary data analysis and scoring model that has proven its efficiency in other countries of operation. Scoring model uses probabilistic methods for evaluating borrowers, both global and local tools, based on the statistics and data from various sources. Company offers the possibility to verify clients’ identity through his bank account via Instantor service, which makes the process totally paperless. The risk assessment model automatically makes a credit decision within a few seconds.
MoneyMan offers several credit products in Poland from 100 to 5000 PNL (~€23-€1152) for a term of 5 days to 6 months. The advantage of MoneyMan in Poland is interest-free use of the first loan of up to 1000 PLN (~€230). The average daily fee of MoneyMan`s loans in Poland is about 0.5% per day.
Loans are issued to the clients’ bank account instantly. The borrower can also get money at the nearest branch of the national postal operator “Polish Post” (Poczta Polska). As well upon request the postman can deliver the funds to the customers` house address. That is unique competitive advantage of MoneyMan in the country. Repayment is performed in a customer’s account at Moneyman.pl through Zpay.pl service. Also loan can be repaid with cash in any bank branch.
Poland became the fifth country where ID Finance provides online lending service and the second country in Europe following the launch of MoneyMan Spain in June 2015. ID Finance currently has offices also in Georgia, Russia, Belarus and Kazakhstan.
«Since 2012, ID Finance issued via MoneyMan over 250K loans valued at over $50 mn and already attracted over $15 mn investments. The amount of microloans for the 11 months of 2015 increased by 3,35 times compared to the same period of 2014, the number of issued loans increased in the review period under almost 4,5 times. The company will continue to grow according to its strategy of international expansion», claimed ID Finance co-founder Alexander Dunaev.
«Polish online lending market is the largest and most developed in Continental Europe. Nevertheless, thanks to the valuable international experience of ID Finance, MoneyMan has the ability to export its best technological solutions and business processes. We have designed original IT stack and use high-performance scoring models to evaluate the credit worthiness of a potential borrower in real-time. These advantages give MoneyMan prospects for rapid growth. Realizing its potential and becoming a market leader are a strategic objectives of MoneyMan team in Poland», said ID Finance co-founder Boris Batine.
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Contact information
ID Finance
Investors
Boris Batine, +7-495-666-2125
boris.batin@idfinance.com
or
Media
Dmitry
Gorokh, +34-93-461-72-31
pr@idfinance.com
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