Fellow Finance is a progressive and innovative crowdfunding for people and businesses, and is based in Helsinki, Finland.
Prior to partnering with Signicat, online customer authentication at Fellow Finance was achieved through in-house integration with the Finnish TUPAS system. This meant maintaining technical interfaces and contracts with multiple banks, which was time-consuming, expensive, and resource-intensive.
With plans to further expand across Europe, Fellow Finance wanted to contract a single provider capable of supplying online authentication solutions in as many countries as possible, while at the same time reducing the overhead—both in terms of cost and resources—of its legacy in-house system.
We started by carefully assessing Fellow Finance’s core challenges, working closely with key stakeholders to define desired outcomes and subsequently onboard the appropriate solution successfully. We concluded that the customer identification solution was the ideal fit for us in Finland and Denmark, and there are plans to launch in Sweden and Estonia soon.
As they continue to expand across Europe, more and more countries will follow. Speaking on behalf of Fellow Finance, COO and Cofounder Teemu Nyholm was particularly impressed by the ease of setup: “Implementation went very smoothly, and Signicat technical support was very helpful.”
Signicat’s customer authentication solution has made a significant impact at Fellow Finance. Since integrating our solution into its processes, the company no longer needs to maintain individual contracts with every bank, while Signicat handles the technical aspects from end to end. As a result, Fellow Finance estimates that it has achieved savings of 35% on the costs associated with customer identification.
Savings on costs associated with customer identification
Fellow Finance, headquartered in Helsinki, Finland, is the leading crowdfunding company in the Nordics. It was set up to help businesses and individuals alike to find funding for their next big idea.
The company has grown rapidly since its launch in 2013, having served more than half a million borrowers through some 10,000 investors across 50 countries.
“Signicat is focused, has superb information systems, and all employees are very attentive to our needs. They are the best partner for secure ID.”