Kredit2Go – Lending in minutes

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Kredit2Go shortens duration from application to payout from days to minutes.

From the application to the payment of a loan, it takes so far several days. According to a recent Forsa survey, this is too long for every second installment borrower (48%). The interest in instant loans is correspondingly high (72%). In the race for customers, many banks are working on a new standard for accelerated lending.

In cooperation with Fidor Bank, smava has now achieved a breakthrough: With Kredit2Go they offer the first fully automatic instant loan in Germany. Borrowers will know in real time if they receive the loan offer and will receive the money immediately. The result: the time from application to payment is reduced from days to minutes.


Kredit2Go solves major customer problems in lending

Time and capacity bottlenecks at banks, the mailing of documents as well as the manual check and payment cause delays so far. Whether the desired loan is granted at all, credit customers learn only after days. Until the money is paid, more days go into the country. For borrowers, this means first and foremost: they are limited in their ability to act.

These delays and the resulting limitations have now been eliminated by smava and Fidor Bank. Through the digitized and fully automatic form of lending, borrowers receive a binding credit decision during processing, ie in real time, and receive the money immediately and fully automatically in the event of a commitment. For the first time, credit customers are now in the position to plan required purchases safely and to make them immediately.


The customer moves further into the center

“Online services like Amazon Prime and Amazon Now have got customers accustomed to receiving goods and services as quickly as possible. From this, a general claim has developed. This is now being fulfilled for the first time in the credit sector with Kredit2Go, “says Alexander Artopé, Managing Director and co-founder of smava. “Bank customers are accelerating and accelerating the digitization of banking through their usage behavior,” adds Matthias Kröner, CEO of Fidor Bank. Already 20 percent use their smartphone for banking transactions. “With Kredit2Go, manual loan processing is being replaced by a fully automatic one for the benefit of the customer,” continues Kröner. “So far, only the introduction of ATMs and online banking has been equally fundamental and significant. The customer can look forward to it. He continues to be the focus of attention, “summarizes Artopé.


How does the Credit2Go work?

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The application, processing and payment of the Kredit2Go are digital and fully automatic.


Digital credit and identity verification

Once the customer has opted for Kredit2Go, a digital, fully automatic and encrypted credit check will take place. In a video call with a loan officer, the borrower identifies himself using his identity card or passport. This eliminates the need to gather and send documents as well as the way to the post office and bank.


Digital signature

The loan agreement is sent to the applicant by e-mail. He signs these, as in online banking, using a transaction number (TAN), which he gets sent to his mobile phone.


Instant Payout

After the digital signature, the loan amount is paid out fully automatically. This way, the customer can immediately dispose of the money.