"Modulbank" estimates 5% of clients using Cashoff technology for import of data

On May 29, 2019 Modulbank reported that already 5% of his active clients use technologies of CASHOFF company. Entrepreneurs can use Modulbank products without opening of the checking account. Integration with other banks is performed due to the technology developed by CASHOFF company - import of the standardized data on clients of Modulbank in third-party banks.

Modulbank made one of the first in Russia open API to which any organization can get access. In most the Russian banks API it is closed. Solution integration of CASHOFF gave to Modulbank the chance to connect 11 banks and to obtain reliable data on the clients. Import of data allows to work in an analog of open API, and clients of Modulbank can conduct the financial flows in a universal personal account where it is possible to see information on accounts in all banks at the same time.

The appeared opportunities for clients of Modulbank allow to obtain information on the accounts in other banks, to analyze risks of reliability of the company on service "White business", to keep account of tax burden of the company, to automatically load details of partners.

Modulbank also applies CASHOFF technology to assessment of the movement on customer accounts in other banks. It allows to make the decision on issue of Modulcredit, credit type for business under Big Data and to automatically calculate its conditions - the amount, a rate and other parameters. The maximum amount across Modulcredit makes 2 million rubles, a credit period - up to 2 years, a rate - from 12% per annum.

Anton Lipatov, the operating officer of Modulbank told:

In 2018 Modulbank made the decision to transfer all loan portfolio to credit products which are issued in the automated mode, without manual processing of a large number of documents. In March, 2019 we put on the market Modulcredit which works by this principle. In many respects it became possible thanks to CASHOFF technologies. Anton Lipatov, operating officer of Modulbank

Mikhail Medvedev, the CEO of CASHOFF noted:

The technology developed by CASHOFF gives the chance to Modulbank to receive online and data on transactions of clients in all banks where their accounts are opened. Functioning of 24/7 CASHOFF service is ensured by a team of specialists in development, reengineering and support. It is sure that cooperation with Modulbank will continue in other directions that will provide observance of the high SLA standards for remote services of customer service. Mikhail Medvedev, CEO of CASHOFF