Central banking solution for Kreditech

More efficiency and lower costs:

This is the result of our successful collaboration with the financial service provider, Kreditech Holding SSL GmbH. This case study reports on the challenges we were able to solve with the help of ennoxx.banking and the benefits Kreditech Holding SSL GmbH has seen in their workflows since then.

About Kreditech

“Improving financial freedom for the underbanked by the use of technology”: In line with its mission statement, the Kreditech group is particularly dedicated to people who have only limited access to traditional financial products. The digital, internationally active fintech company has developed a technology that makes it possible to figure out the creditworthiness of the “underbanked”. On this basis, the company currently offers financing options for end consumers in five subsidiaries in Poland, Spain, the Czech Republic, Russia, and Mexico, and provides “credit as a service” for other online platforms.

ementexx did what they promised to do: They implemented a central banking system for us in a very short period of time and connected it to our existing systems. The optimised workflow accelerated our processes and reduced our costs.


Stefan Kreiling
Vice President Payment
Kreditech Holding SSL GmbH

The initial situation

Since it was founded in 2012, Kreditech Holding SSL GmbH has grown continuously - both in terms of customers and credit volume. Having operational business in different international financial markets outside of Germany poses an additional challenge: The Kreditech group uses different Payment Service Providers (PSPs) for the payment and reimbursement of credit in its subsidiaries, in which it only does business with its end customers. Banks are used for the administrative payment transactions. The proprietary formats and communication channels of the various PSPs and banks require separate integration into the backend systems – the result being a time and resource-intensive workflow.

The goal

Consolidating the different payment systems into a central solution should save on time and costs. To achieve this, we optimised the banking processes on two levels: Within the company and on the customer side. Thanks to the introduction of SEPA transfers and direct debits, the customer benefits from the fast processing of individual transactions and the fact that incoming payments are assigned directly (reconciliation). This creates a smooth workflow that is characterised by customer service. In addition, Kreditech Holding SSL GmbH is now using a mandate administration system as a central solution to ensure that SEPA direct debits are processed in line with the SEPA regulations.

Our solution

With the help of ennoxx.banking, we were able to solve the task we were faced with within just three months. The result is an optimised workflow combined with a significant reduction in costs:

  • Use of ennoxx.banking as a central hosted payment and banking solution
  • Individualisation and customisation to fulfil the special requirements of Kreditech
  • Full automation of the core processes
  • Conversion of system data in JSON format to ISO 20022 and vice versa
  • Plausibility checks and automatic authorisation of payments
  • Connection of banks and Payment Service Providers (PSPs) via EBICS, SWIFT and individual communication channels
  • Automated reporting to backend systems
  • Active alerts when the minimum account balance is reached and individual payment limits are exceeded
  • Full mandate administration with an automated interface
  • Customised encryption of the data exchange between the Kreditech systems and ennoxx.banking