Our team has a wealth of experience spanning data science, data engineering, banking, risk management, marketing and branding as well as operations. We understand the impact that changes in these industries have on consumer lending. In particular:
1) Regulation has fundamentally changed the consumer finance market.
2) Despite the European financial sector expanding by almost 50% since pre-financial crisis, total bank assets have decreased in absolute terms.
3) The principal driver has been the imposition of more onerous capital requirements that have seen minimum levels increase by 75% for certain banks since 2011 (Basel Committee on Banking Supervision).
4) Reduced lending appetite of banks include more prudent accounting rules (most recently the amendment to IFRS 9) and the increasing costs of compliance as well as subjective traditional credit underwriting exacerbated by a lack of positive credit bureau records in Europe.
5) Alternative non-bank credit institutions are ideally placed to fill this void and leverage technology to embrace the individual’s ability to share their own financial data through Open Banking Regulation (The European Payment Services Directive 2).
Despite the financial sector expanding by almost 50% since pre-financial crisis, total bank assets have decreased in absolute terms.
EuroOne companies provide intelligent financial services for consumers across Europe
