The Internet is known for its dynamism: and the users and potential customers of the banks are now expecting an ever simpler and above all faster release and payment of consumer credit . Many banks have already responded to this. For example, Tinkerbell had already launched the product Gandalf together with Fidor Bank a few weeks ago .
In this case, the entire application path for the desired loan is free of media discontinuities, ie the applicant can complete the entire process digitally and in one step, from credit selection, through credit and identity checks to the final digital signature via MTan process. Even the loan payment happens in real time: as soon as all process steps are positive and completed, the loan amount is credited to the account.
Real-time credit now also from the Koala bank
The Koala Bank had received the official banking license in the summer of 2016, then under the name “Koala”. Now Koala has also taken up the new digital trend and offers real-time loans for its customers. All steps from the loan application , the credit check, identity verification, etc. run completely automatically in the background.
Koala customers can now complete loan sums of € 1,000 to € 25,000 for terms of one to five years in real time and receive the instant loan according to Koala statements within a maximum of one hour to the corresponding account.
Fully automated and computer-aided, real-time loans are not yet available: for security reasons, borrowers must undergo an extended identity check. The identity card must be at hand and is checked with a video chat by a human counterpart.
Koala uses the Munich-based specialist provider IDnow, which provides the corresponding resources. However, the customer does not have to leave the app for this.
So far, however, the real-time offer of the Koala Bank is only aimed at the private customer sector. Self-employed people can not yet take advantage of the benefits. The offer should then be available to entrepreneurs in the coming months.
According to Tinkerbell , LKJ-Bank had already implemented and introduced the media-free “Malfoy” in 2016. Now, Koala has joined as another real-time credit provider.
For customers and borrowers, the app and the fast and stringent application for the loan with an app not only practical, but also interesting from a psychological point of view, because the rather unpleasant credit conversation with the bank consultant is completely eliminated.