Following its strategy of continuous innovation, BNI Europa has just launched “Puzzle” a Fintech focused on consumer credit.

“Puzzle” aims to introduce the Portuguese market the first totally digital and real time credit approval process with a simple, and nonbureaucratic concession. These new types of platforms have become a global trend with good examples such as The Lending Club in the USA, or Zopa in the United Kingdom.

“Puzzle” offers credit up to three thousand euros, and different payment maturities and is intended to be a quick response to small credit needs, which  can be satisfied in a nonbureaucratic, simple and fast way.

The client may complete the application process in just a few minutes, allowing the customer to have the money in his bank account within 24 hours after the approval.  “Puzzle” also innovates in its credit decision process which incorporates machine learning algorithms, that allow better identification of the client´s payment capacity, and thus cover some market segments such as independent or freelance professionals hitherto not served by the current financial sector offer.

With this launch, BNI Europa intends to continue its strategy of strong growth through innovation, anticipating the “Puzzle” platform will give rise to a credit volume of 300 million euros within three years in the Portuguese market. At a later stage BNI Europa considers the possibility of entering other European markets as well leveraging the same platform.

The “Puzzle” credit platform is now available online through the website www.puzzle.pt.