Qred is Sweden’s fastest-growing fintech and Europe’s newest bank.

Its collaboration with Roaring creates the conditions for its automated loan application process and automated credit assessment system. The partnership not only ensures regulatory compliance and data quality, but also an exceptionally smooth customer experience that sets Qred apart in small business financing.

Qred offers simple and flexible financing for small businesses.

The company was founded in Sweden in 2015 and has since expanded into six new markets. Qred is Sweden’s fastest-growing fintech company according to the Financial Times, and its recently obtained banking licence enables it to expand its operations to even more small business owners across Europe.

Business loans form the backbone of the product offering. Qred’s automated credit assessment system enables an unbeatable fast and smooth loan application process, which is an important competitive advantage.

- It is much faster to get a loan from us than from a traditional bank, but it is an equally thorough assessment process. The partnership with Roaring is one of the factors that makes it work.” – Molly Wahlström, Qred

Qred has moved from collecting data from several different sources to using Roaring as a one-stop shop. The information collected is primarily for compliance purposes, which then goes hand in hand with the credit decision. The data collection takes place in real time behind the scenes and only needs to be verified by the customer. The automation helps both to keep Qred’s cost base down and to create a smooth customer journey.

- We care deeply about the customer experience, and we understand our customers’ needs. Sometimes financing needs to be arranged quickly, whether it is a matter of repairing a lorry or buying extra pizza boxes ahead of New Year’s Eve. Our record is ten minutes from application to loan disbursement,” says Molly Wahlström, Customer Operations Manager at Qred.

Qred has also integrated Roaring’s monitoring services to ensure that it has up-to-date and accurate information about existing customers.

- We have a large base of returning customers who know that they can quickly and easily contact us when new needs arise. Through the monitoring service, we keep track of any risk changes throughout the customer lifecycle,” says Molly Wahlström.

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