Aura Cloud and CredPoint Sweden AB have teamed up to create a service for lenders that provides real-time data from banks. This will help lenders make better decisions and avoid credit losses altogether. Read more in the recent article from Dagens Industri!

Fintech startup Aura Cloud announced today that the esteemed finance executive Caroline Farberger is joining the company as chairwoman of the board of directors – an engagement that comes on the back of her upcoming work with Wellstreet, one of Aura Cloud’s main investors, along with Almi Invest.

CredPoint and Aura Cloud have entered into an agreement where Aura Cloud will deliver CredPoint's futuristic technical platform for credit checks, starting in Sweden.

The first version to be launched is a solution for controlling credit commitments in real time among affiliated banks and financial institutions. The solution requires no central credit register that needs to be maintained and stored - everything is done in real time and completely without limitations. Connected players will quickly draw the benefits of CredPoint's solution as it lowers the risks of credit decisions and can contribute to the financial institutions’ loan losses decrease, something that the market lacked for a long time.

CredPoint also enables an in-depth social problem to be counteracted. The possibilities of over-consuming on credit, borrowing a lot of money in a short time and to be indebted to several creditors at the same time have grown sharply. This in turn creates dangerous debt levels for society and for individual individuals, that CredPoint services can help prevent.