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Fintech & E-commerce
November 2020 www.intellinews.com I Page 13
a one-time mobile code," Tarmo Sild, head of IuteCredit Europe, said.
Following Moldova, the company plans to expand its cardless ATM service to Albania, Bosnia and North Macedonia. According to Allar Niinepuu, co-founder and commercial director of IuteCredit, the company is expanding its loan disbursement capacity by creating a network of ATMs.
"We can offer our customers better and faster service. As intra-bank and interbank payments take time, customers typically used post offices, where they had to wait in queues, to receive money. Now, however, customers receive the money from the machine immediately after approving the loan agreement," Niinepuu said.
"In addition to the cardless ATM, we also
came out with the MyIute app in Moldova,
where customers can apply for a loan quickly, conveniently and contactlessly, and receive a loan application confirmation in just seconds. The whole process is secure and the loan amount offered by the system always corresponds to the financial profile and history of the loan applicant. Both the ATM network and the app allow us
to offer new services and increase revenue," Niinepuu added.
Moldova is IuteCredit's largest market, offering both unsecured and secured instalment services.
IuteCredit's partners include national post offices, Mastercard and international telecom operators Orange, Vodafone and Deutsche Telekom. The headquarters of the parent company with 40 employees is located in Tallinn. IuteCredit's bonds are listed on the main list of the Frankfurt stock exchange.
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