7Seconds (platform)

Platform 7Seconds is the development of company 7Seconds intended for simplification of the procedure of issue online of the POS credits and loans.

At the heart of the financial technical-platform — own modules of company 7Seconds on prevention of fraudulent activity and scoring systems which are designed to reduce bank risks.

The POS crediting online service 7Seconds has integration modules with online stores and banks.

History

On July 7, 2017 7Seconds announced partnership with NtechLab company within which integrated FindFace technology into the financial technical-platform for a design of the fast online credits and loans issued directly in points of sales.

The solution NtechLab will be used for fraud prevention upon online purchases and also identification of individuals which are going to take the credit. As envisioned by the company, it will allow to optimize quality of borrowers and to reduce bank risks. Besides, a system will define the staff of shops which are engaged in a design of the credits for buyers that is also necessary for prevention of fraudulent and illegal acts.

"The size of the market of online crediting in Russia at the end of 2016 increased more than three times and was about 8 billion rubles. Risks at issuance of credits on the Internet are much higher, than in the traditional banking sector. At the same time the high competition in the market does not allow to put them in the cost of attraction of financial resources — the CEO 7Seconds Alexey Chalenko explained. — An exit in this case is use of modern technologies, including biometrics and the analysis of Big Data that allows us to provide the minimum credit risks. Based on our internal testing the solution NtechLab was the best, and I am sure that it will become one of components based on which we will build the effective financial technical-platform".

"Development of online crediting created new calls for financial institutions. The companies often face attempts of swindlers to use forgery documents which online is much more difficult to check, than at the personal appeal to bank or microfinance institution. The front biometrics in this case is an optimal solution as it allows instantly and with a high accuracy to identify the person without need to arrange long checks which can frighten off a considerable part of fair clients" — the CEO of NtechLab Mikhail Ivanov considers.