4Trans is a logistics-focused fintech firm offering the fastest financing solution to truck drivers, giving them access to needed funds within minutes. It is the perfect option for on-the-go workers, allowing them to upload invoices electronically and receive an answer in real-time. The firm relies on their data-driven risk model and insurance to keep the service safe and secure. An emerging leader in SME financing in CEE, 4Trans empowers the potential of small businesses and frees their owners to focus on growing their business.
“Truck drivers will often struggle to receive financing when they are on the go because of complicated and time-consuming processes, firms’ reliance on physical documentation, and long waiting time which can span days or sometimes even weeks. We wanted to provide a different kind of service and to help SMEs spend less of their time on financial stress. We provide financial assistance to underserved businesses and we pride ourselves on our streamlined and straightforward approach to cash-flow solutions. Nordigen and their open banking technology are helping us evolve our processes, by enabling us to further automate and enhance our credit and fraud checks. Based on this data we are able to predict the financial standing and thus further tailor our product offering to the needs of SMEs, increasing our share of their wallet whilst offering a one-stop-shop financial management tool,” explains Jaroslav Ton, CEO of 4Trans.
The Nordigen integration allows 4Trans to connect directly to bank accounts to analyse financial data and determine creditworthiness and reliability.
“We are excited for our partnership with 4Trans and we align with their notion that financing should be made easier when in-depth checks and analysis can be performed through the use of open banking. Applications can be submitted fully digitally and creditworthiness reports can be made available so much quicker than any other solution,” notes Rolands Mesters, co-founder and CEO of Nordigen.
Nordigen is a freemium open banking platform that provides free access to open banking data and premium data insights. Nordigen’s free API connects to more than 2,300 banks in Europe and serves fintech companies and developers in 31 European countries, including the UK. Nordigen is a licensed Account Information Service Provider (AISP), regulated by the Financial and Capital Market Commission of Latvia and authorised in 31 European countries.
4Trans is a fintech startup focused on SME financing in logistics, giving them access to funds. The fully digital solution allows them to upload invoices electronically and receive an answer in real-time. The firm relies on their data-driven risk model and insurance to keep the service safe and secure.