Hoovi is an Estonia-based SME lender specializing in uncollateralized financial products for small businesses. Their product portfolio includes a business credit line, small investment loans, and a flexible payment solution for partners' B2B customers. To support their growth and address market challenges, Hoovi implemented a more advanced loan management system through Fintech Market's platform.
We had a talk with Hoovi's CEO Karl Märka, about how the company leverages Fintech Market's loan origination software to enhance customer value and facilitate their expansion into new markets. By utilizing the advanced features and capabilities of the platform, Hoovi aims to stay competitive, increase operational efficiency, and provide additional value to their customers.
Enhanced Product Offering
With the transition to Fintech Market's lending software, Hoovi has expanded its product offering without extensive IT development. The platform's flexible architecture allows them to quickly launch new financial products and features, catering to the evolving needs of small businesses. They are introducing new financial products and features, including customized lending solutions for small and medium businesses. By leveraging the system's capabilities, Hoovi can efficiently design and deploy these products, gaining a competitive advantage in the local lending market.
Cash Flow Management
Managing cash flow is crucial for Hoovi's operations, as it directly impacts their ability to provide loans and maintain profitability. The platform provides robust financial analytics and highly customizable options, enabling Hoovi to offer solid services according to their needs. With our software they have access to different customer data like payments, communications, accounts and active customers. These help them optimize their lending processes, and have all the information just a click away.
Hoovi has ambitions to expand its lending services internationally. However, they face constraints imposed by their existing software platform. To overcome this challenge Hoovi relies on Fintech Market's loan management software, designed to support global operations and scalability. The platform offers multi-currency support, compliance with international regulations, and different integrations. With these features, Hoovi can seamlessly enter new markets, cater to diverse customer needs, and adapt their lending processes to different legal and financial environments.
Customer Value and Partnership Approach
Hoovi recognizes that the lending industry is becoming increasingly competitive, and customers expect more than just loans from lenders. To differentiate themselves, Hoovi aims to provide added value to their customers and establish long-term partnerships. FTM’s platform enables Hoovi to offer value-added services and features to their borrowers, thanks to the available CRM configuration options our clients are able to streamline communications and offer a complete service with the other features like highly configurable flows, payments and debt management, statistics and integrations.
Through the adoption of Fintech Market's lending software, Hoovi has successfully enhanced their product offering, increased their loan portfolio and improved cash flow management. In addition, Hoovi has laid the foundation for international expansion. We want to keep supporting Hoovi’s growth and are excited to see what the future holds for them.
About Fintech Market
Fintech Market (FTM) offers an all-in-one loan management system for financial service institutions. The platform covers loans, deposits, current accounts, and investments, and incorporates functionalities such as CRM, KYC, risk mitigation, and debt management. FTM's products are available for neobanks, SME loan providers, car leasing enterprises, and buy-now-pay-later providers across the European Union (EU), Mexico, and Indonesia, providing tailored solutions to enhance their performance within the lending software market.