Banco BNI Europe is Now Investing in Fellow Finance Listed P2P Loans

Challenger bank Banco BNI Europa is now investing in loans via the Fellow Finance platform. According to information provided by Fellow Finance, Banco BNI is the first European bank to invest in loans on its platform. Banco BNI Europa will now be present on the Nordic and Central European consumer loan and SME loan market as investor through Fellow Finance.

Fellow Finance offers both peer-to-peer lending service to consumers and to companies. Fellow Finance has orginated loans for over €200 million and the platform claims 280,000 users from 43 countries. Fellow Finance is regulated by the Financial Supervisory Authority of Finland as an authorized Payment Institution.

Jouni Hintikka, CEO of Fellow Finance, believes that modern banks grow by partnerships and his platform provides an easy access to invest in loans in the Nordic and Central European consumer and SME loans through its platform.

“Through their investment account at Fellow Finance, Banco BNI Europa is able to diversify their balance sheet investment into Finnish and German loans easily and cost-effectively,” says Hintikka. “This is an example that banks don’t need to set up their own expensive operations on ground but can effectively enter markets through marketplace lending platforms. It is also an example how banks can also utilize the presence of Fintech among their core business”

Pedro Pinto Coelho, Executive Chairman of Banco BNI Europa, said the partnership allows for a great opportunity to easily expand their operations. “we are very satisfied with the analytical and professional approach of Fellow Finance in credit intermediation,” says Coelho.

To date Banco BNI Europa has struck fourteen Fintech partnerships with European Fintech leaders across the continent. The bank reports a 141% rate of growth at the end of 2017 taking its total assets above €500 million. Banco BNI cited its focus on “innovative products” as an explanation for the improved performance. Banco BNI Europa  was launched in July 2014 and is Portugal’s fastest growing digital-only Bank.

Sponsored Links by DQ Promote

Send this to a friend