While this blog primarily discusses news and events surrounding Nexo, one can not really understand and get a good grasp of the world’s largest crypto lender without taking a closer look at Credissimo — our FinTech company that has been providing financial innovation since 2007 and has helped shape the Nexo crypto lending model.
Credissimo is a leading European FinTech Group that implements innovative proprietary technology and automation of processes, combined with a superior customer experience. This enables the company to deliver unmatched efficiencies and state-of-the-art consumer finance solutions to millions of people across Europe.
Credissimo brings more than 10 years of online lending automation experience — the company was a “FinTech” before the term was even coined.
At the heart of Credissimo’s unique operating model is its sophisticated proprietary algorithmic platform, which incorporates instant online loan approval, risk management, and collection systems. The product is optimized to operate in any country, regulatory environment, language, and currency, and is readily available to support the company’s continuous global expansion.
Ever since its inception, Credissimo has always been strictly supervised by several European Financial Services and Central Bank regulators and adheres to the regulatory standards of the jurisdictions in which it is operating, while operating in accordance with a strict framework for a professional and ethical conduct.
Transparency in all activities is a prime reason for Credissimo’s success story. Regular and comprehensive reports are issued on a consolidated basis and Deloitte is retained to audit the financial statements for the benefit of the company’s international customer base and institutional partners.
Credissimo’s principles of fairness and integrity are the key to the company’s rapid expansion — with subsidiaries in several European countries and most recently established operations for strategic growth through coverage of the South American continent.
Credissimo’s proprietary loan administration and receivable collection systems were diligently developed and optimized to ensure a below industry-average non-performance levels and greater profitability.
Last, but not least, the company’s seamless user experience, automated processes and AI-enhanced customer service have contributed to Credissimo becoming the preferred lender and favorite consumer brand over several years in a row in multiple markets. The company’s capabilities and recognition put it in the prime position to expand further from a leading European FinTech player to a global, institutional powerhouse.
Awards & Recognition
Over the years Credissimo has received numerous prestigious awards. Its most recent accolades were the first place awards for “Financial Sector Innovation” and “Quality of Services” from the Forbes Business Awards 2017.
Other notable accomplishments have been the “Innovation of the Year” award in 2017 where
Credissimo has been recognized for developing the first chatbot service for loan applications in the world.
It also took home first place in the “Technology innovation” and “Marketing and PR Innovation” categories.
Credissimo’s Relation to Nexo
Some of Credissimo’s founders delivered the essence of Credissimo’s background in instant online lending to Nexo by adapting this successful operating model to the blockchain space. Nexo’s instant crypto loans serve as the crucial answer to the past decade’s dilemma of how to enjoy one’s crypto-wealth without selling it.
While being powered by Credissimo’s 10-year experience in online lending, Nexo is a separate legal entity. In comparison to Credissimo’s unsecured consumer lending business, Nexo runs a simpler loan underwriting and administration model.
In this respect, Nexo’s business model is uniquely positioned to be equally attractive to customers and investors with the massive potential to make the company a household name on a global and borderless scale.