By introducing new technological solutions, last year Latvian Fintech company DelfinGroup invested more than EUR 100 000 in digitising its services, which has enabled improved financial services to be brought to the market.

 

"Technological progress and innovation are the cornerstones of Fintech development. Any Fintech innovation can have a significant impact on the customer experience. It is important that these innovations create easier access to financial services and make products and services easier to use. A positive customer experience is one of our priorities when it comes to the development of our company and our range of services. To achieve this, we have made various financial services available to as many people as possible, regardless of their geographical location. By introducing, for example, the Neopay secure payment initiation solution, we have placed great emphasis on simplifying the transaction process, thus both reducing the costs of payment provision and providing customers with the most convenient and understandable financial service," explains Sanita Zitmane, Member of the Management Board of DelfinGroup.

 

Last year, the most significant investments in technological solutions were made in the development of the Banknote online store for new and pre-owned goods, which has become one of the leading platforms for the sale of pre-owned goods in Latvia. The shop already offers more than 40 000 goods in one place, which are carefully checked before selling. In addition, the online shop has been redesigned, and the system has been improved to provide a much more pleasant interaction and e-commerce experience for users

 

Equally important investments have been made in integrating Open Banking solutions, which allow customers to share their financial information simply and conveniently, improving the speed of loan assessment and disbursement processes. Investments have also been made in introducing the Neopay interbank payment initiation service, making the loan service as fast and accessible as possible for the customer. As a result, the payment process is made much easier for the customer, who can receive an already completed bank payment application securely and conveniently at the touch of a button. This system is already in place in the Banknote online shop. Additionally, according to the company's operational information and a customer survey, one in three people are happy to use hyperlinks or active payment links to make a payment.

 

Last year, we also digitised our internal business processes, moving away from paper and introducing the automation of various business processes. "One of our strategic directions is to be efficient, which also applies to our day-to-day operations as a company. Increasingly, we are building our operation on data science. The successful analysis and application of data drive the development of our services and identify the most appropriate services and improvements for our customers. Successful execution of the company's strategic directions has developed our technological solutions to maintain our position as the market leader in modern yet easy-to-use financial solutions," emphasises S. Zitmane.

 

About AS DelfinGroup

 

DelfinGroup is a licenced technology-based financial services company established in 2009 and operates under the brand names Banknote and VIZIA. The company continuously develops and offers consumer and pawn loans, loans developed for senior citizens, Buy now pay later loans (BNPL loans), and the sale of pre-owned goods online and at more than 90 branches across Latvia. On average, 35 thousand loans are issued monthly and serviced by a professional team of more than 300 DelfinGroup employees. The company has a total of over 400,000 registered customers. Since 2014, DelfinGroup has been known on the Nasdaq Riga Stock Exchange as a bond issuer and, since 2021, as a listed company on the Baltic Main List. The company's IPO in 2021 attracted almost 6000 new shareholders. The company regularly pays dividends to its shareholders. In the first nine months of 2022, the company's net loan portfolio grew to EUR 59.7 million, while its EBITDA reached EUR 9.3 million, with profits before income tax for dividends of EUR 5.4 million. The company's sustainability is based on focused corporate governance, fintech innovation, responsible lending, financial inclusion, and facilitating the circular economy. The company has been profitable every year since 2010.

 

For further information, please contact:
Linda Eltermane,
DelfinGroup Head of PR
Phone: +371 28700457
E-mail: [email protected]