Credy

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  Credy, the future of credit rating

Inspiration

Small and medium-sized enterprises (SMEs) are frequently hailed as the backbone of the economies. However, the SMEs usually have severe difficulties with raising money. Considering the bank-dominated characteristic of economies, banks are the main source of financing, and the lack of a comprehensive credit rating database has been a bottleneck for SMEs.

What it does

through the Kyc of our platform users, we make sure that according to their credit rate they get the banks with a best interest rate

How we built it

First, we tested the Finestra APIs using postman. Then, we implemented our platform prototype. We used Angular8 for the front-end. And for the back-end, we integrated the Finestra PSD2 and Credit 2 APIs (we will use other APIs since we will implement other functionalities). The SMEs' data is finally stored in our MongoDB database. So, the user will request a credit. The data posted on our platform will be stored in our databank and sent to our banks' clients to get the credit rating. After getting results, we send the SME profile to the bank with the highest score. After that, the banks will contact the SME to continue the procedure. The credit information will be automatically updated. And, the use of the PSD2 allows as to update the SMEs dashboard automatically. At the end of the year, we provide clear and relevant reports to the banks based on the SMEs data saved with our platform.

Challenges we ran into

we changed our idea several times to finally obtain the most market oriented solution

Accomplishments that we're proud of

a mixed team with great synergy between us and incrdible mindset we won the prize of Best team

What we learned

how API actually works and how to consider all the market players

What's next for Credy

prototype by mars 2020 to sign with banks and stat working

Built With

• angular.js
• machine-learning
• mongodb
• psd2