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Expanding Invers wants to broaden its financial services via PSD2

Fintech enabler appoints Matthijs Koorn and Erik Veer as new CCO and CTO

THE NETHERLANDS – The safe and customized provision of credit by financial institutions to consumers and businesses based on their banking transactions can be applied on a much larger scale in the Netherlands. To help more institutions and financial service companies via PSD2, fintech enabler Invers will be expanding significantly in the coming years. To prepare for this the company has added CCO Matthijs Koorn and CTO Erik Veer to its Board of Directors.

“PSD2 offers possibilities that are unprecedented. That was the main reason for Nationale Nederlanden to take an interest in Invers at the end of 2020. We want to triple the size of the company in the coming years. In clients, revenue and employees”, the C-Board members state.

Via Open Banking Directive PSD2, consumers and companies can give third parties access to their bank account. Invers was the first non-bank in the Netherlands to receive a PSD2 license in 2019. Using its fintech software, the company can collect, analyze and categorize banking transactions for its customers after permission from the account holder. The software recognizes all income and expenditure categories and provides a clear and reliable financial insight of the account holder in a split second, important for creating risk profiles or analyzing spending limits and payment behaviour. These data allow institutions to grant credit more quickly and customers to gain better insight into their finances.

Invers can enrich up to 95 percent of all transactions. Although the company operates relatively anonymously, Invers has a clientele of well-known and major banks, insurers, financial institutions and other service providers, debt counselors and the NIBUD. The company provides the technology under their hood, so to speak.

In recent years more and more applications have been developed using Invers’ software and data. From Open Banking to Nationale Nederlanden‘s  NOVA app. “We supply the data our clients can use to make better informed decisions,” explains CCO Koorn. He has worked for fifteen years in the payment sector, for companies such as Mastercard, Worldpay and ING. ,,I have always advised payment companies. Now I was given the opportunity to be in control instead of advising”, he explains his switch to Invers.

CTO Erik Veer has also been active in the payment sector and fintech for years, mainly as a strategic advisor and lead architect, amongst others for Global Collect and ING. He wants to further expand the possibilities of artificial intelligence (AI) and machine learning in Invers’ software. “By learning from customer feedback, we can enrich our data even further,” he states.

By partnering up with Invers, financial institutions, companies and creditors can gain an even better insight into cash flows, enabling better analysis and forecasting and offering even more tailor-made credit, insurance and other services. “This proved to be of great importance during the Covid-19 pandemic. You can manage your business much better using this type of data than depending on annual accounts or audit reports,” say Koorn and Veer.

Find out more about Invers here.

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