Dublin, Ireland, 18 March 2019
Verge.Capital has secured funding to develop a pan-European creditworthiness and affordability check platform. Verge.Capital’s platform will enable EU citizens to carry their credit scores across EU freely. The platform will also enable underbanked EU citizens to get access to credit facilities based on its capability to assess them and will expand the addressable markets for financial institutions both domestically and across borders. The funding, from DataPitch, is part of a 6-month accelerator programme that will run until September 2019.
“This funding award will enable Verge.Capital to architect a credit scoring platform with highly valuable impact to individuals financial well-being; a platform that helps financial institutions to dynamically assess their credit applicants” commented Verge.Capital’s Chief Risk Officer, Ioanna Stanegloudi. “It also gives us the opportunity to enhance our team’s Software Development and Data Science skills. We will be announcing the team additions in the next few weeks. Moreover, this award confirms that our innovative approach to problem solving, that uses behavioral transactional data and technology creates real world value”.
The project will also see that Verge.Capital will further automate its data interrogation work-flows, and that it will integrate near-real time data feeds from PSD2 banking APIs. Verge.Capital will work with Financial Institutions and Individuals to test the platform in a real world environment across a variety of regions through European Union.
Verge.Capital has also been accepted to National Bank of Greece fintech accelerator program. BeFinnovative 3.0 is a 5-month accelerator programme that will run until June 2019, and will facilitate a closer collaboration with NBG, including access to its domain knowledge, experts and rich data.
About Verge.Capital
Verge.Capital will be a pan-European credit scoring provider, and will enable individuals and financial institutions to universally assess affordability and creditworthiness of individuals by utilizing machine learning on top of open banking APIs. For more information visit https://verge.capital
About Datapitch
Data Pitch is an EU-funded open innovation programme, bringing together corporate and public-sector organisations that have data with startups and SMEs that work with data. It is centred around a competition with several tracks which describe challenges, and a virtual accelerator programme (6 months) to help startups and SMEs develop solutions to meet these challenges. This project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement number 732506. For more information visit https://datapitch.eu/
About BeFinnovative
National Bank of Greece’s Befinnovative is an acceleration program that helps teams and businesses develop ideas, technological solutions and new companies in the field of financial technologies. Befinnovative provides consultancy services, mentoring, coaching, technical support and resources in a specially designed 5-month cycle that aligns entrepreneurs with experienced business executives, and networks the market with fresh and innovative ideas. For more information visit http://befinnovative.com/en/