Credit Hero gets a digital boost in lending with Salt Edge solution

Credit Hero, an online lender from Hong Kong, teamed up with Salt Edge, a leader in offering open banking solutions, to access borrowers’ bank data at digital speed and eliminate the traditional paper chase.

Hong Kong is a leading global financial hub. As recently the macroeconomic environment has changed, the lending market is experiencing a so-called digital seismic shift. Escalating uncertainties kickstart the demand for credit products which provide fast access to consumption-oriented liquidity.

Credit Hero uses artificial intelligence and data science to provide tech-savvy lending solutions. The company employs optical character and facial recognition for risk assessment and machine learning for automated underwriting. AI technologies run bank data aggregated from 9 major HK banks to reduce the lending process time from days to 6 minutes. Equipped with Salt Edge tools, Credit Hero improved the bad debt rate by enhancing credit risk analysis.

The collaboration with Salt Edge granted us access to real-time financial data to automatically verify the applicant’s identity, account number, income sources, and balance. We are not only looking to achieve more operational efficiency but also to deliver a more intelligent risk management and enhance the customer experience.

Ronald Lam, Founder & CEO at Credit Hero

Credit Hero applicants can now avoid the headache of bringing in paper bank statements – the required data is aggregated from banks and digitally transferred directly into the lending platform. Receiving all the transactions categorized, Credit Hero can instantly analyze borrowers’ financial spending habits and provide fairest rates of interest.

With modern world craving speed and digitalization, Credit Hero embraced current market rules and delivers better experiences. Salt Edge shares their goal to reinvent the traditional financial services by means of technology for the benefit of society.

Vladimir Pintea, Head of Open Banking Gateway at Salt Edge

Discover the full Salt Edge coverage to find out if our services are available in your country.

About Salt Edge

Salt Edge – a financial API platform with PSD2 and open banking solutions. The company has two main vectors of activity: enabling third parties to get access to bank channels via a unified gateway, and developing the technology necessary for banks to become compliant with the directive’s requirements. ISO 27001 certified and AISP licensed under PSD2, the company employs the highest international security measures to ensure stable and reliable connections between financial institutions and their customers. The company is integrated with 5100+ financial institutions in 70+ countries.

More information: www.saltedge.com

Phone number: +1-437-886-3969

E-mail: press@saltedge.com

About Credit Hero

Credit Hero is a fintech company that specializes in personal lending, headquartered in Hong Kong. By operating and creating 24/7 instantly online lending platform via artificial intelligence, machine learning, and data science, bank API which utilize to offer fintech services to customers.

More information: www.credithero.xyz

Phone number: +852-23666398

E-mail: cs@credithero.xyz

Salt Edge report

Discover what is the current state of open banking in Europe

Download now

Related articles

2 min read Aug 2016

Salt Edge Inc. partners with Inverite Verification Inc. | Salt Edge

Inverite Verification Inc. is set to begin using Salt Edge Categorization engine to assist lenders in vetting loans. August, 23th, 2016 – Categorization has always been provided within the Salt Edge’s Spectre API. Now the company introduces the unique possibility to use the categorization engine independently of the data aggregation. Inverite…

4 min read Feb 2018

Spectre API V4 has arrived | Salt Edge

Salt Edge Inc. is proud to announce the release of Spectre API V4 – the groundbreaking data aggregation, enrichment, and payment initiation engine just became more innovative. February 6th, 2018 – In the past few years, FinTech became one of the industries that, arguably, evolves at the highest possible pace….

1 min read Dec 2015

Improved Personalized Categorization Algorithm | Salt Edge

Salt Edge enhances the automatic financial transaction categorization engine by adding a personal touch to it. December 9, 2015 – Salt Edge Inc. brings forth a new improvement to its automatic financial transaction categorization engine. The enhanced Salt Edge Categorizer learns to categorize transactions according to users’ preferences and needs. Even…

2 min read Jul 2016

Salt Edge Inc. signs agreement with Seedly | Salt Edge

Salt Edge Inc welcomes the newest participant of its Startup Program – Seedly, a Singapore based FinTech startup that aims to make Southeast Asia’s first non-banking personal finance app. July 6th, 2016 – Seedly is ready to go live with its simplified personal finance platform. Within the partnership agreement, Salt Edge…