Finturi’s Johannes Brouwer and Visma Connect BV’s Steven Schouten, spoke with Folkert Tempelman of New Business Radio during the Let’s Talk Business program on Wednesday, 21st August 2019. During the podcast, they covered how Finturi – A Dutch SME Lender, uses blockchain and artificial intelligence to build a robust invoice finance platform. Furthermore, they also spoke about, how Visma Connect will enable Finturi to explore all the new possibilities that PSD2 will bring to the alternative financing market.
Johannes noted the high SME bank loan financing gap in the Netherlands and said that making alternate methods of finance which provide a seamless user experience, available to businesses is of paramount importance for the overall growth of the economy. He believes that if Fintechs like Finturi offer simple but secure solutions for raising working capital, it will be highly beneficial to small and medium sized businesses.
Johannes stressed that the traditional methods of raising working capital are paper-heavy, expensive and time consuming. The high operational costs involved in traditional methods make it impossible for the involved parties to finance lower amounts. That was the main reason he founded Finturi in September 2018 with his team. Through Finturi, Johannes aims to solve the cashflow problems of businesses. He said, through the platform businesses can get a loan against invoice in just 24 hours. He also mentioned that this platform opens a very interesting opportunity for financiers to diversify their investment and get good risk-weighted returns for this asset class.
The conversation also discussed the possibilities PSD2 will bring parties like Finturi. While there is still a lot that needs to be done there is a great potential. With less than a month away there are still discussions regarding implementations and available API’s while one would expect it to be ready for full
implementation. The market is divided and should work together more in order to make PSD2 to a true success.
Johannes also spoke about how Finturi assigns businesses a health score basis its Artificial Intelligence algorithm. Using the account information of the businesses will allow Finturi to make even better and more accurate health scores resulting in more riskless loans with lower interest rates. Collaboration with Visma Connect will open the Possibilities for Finturi to gain the most benefits of PSD2.
You can listen to the full New Business Radio recording here.