Fast-growing and fearless – Rietumu Fintech Challenge 2016 winning product Nordigen

Interview with Nordigen Development Director and co-founder Roberts Bernans. 

What is your background?

I’m the Development Director of a startup from Latvia – Nordigen. Our product is a tool helping lenders to automatize the data analysis of borrowers’ bank printouts. This allows banks and non-bank lenders to build automation tools that reduce applicant screening time from 15 minutes to 5 seconds. At present, we are working in seven countries across the world – the Baltic States, Finland, Poland, Spain and Georgia.

What are your biggest successes so far?

We have clients in several countries. We have only been in operation for two years and currently we already have a total of 30 clients around the world. Our tool is being used in the biggest banking and non-banking systems in Latvia. Right now, we’re actively working on cooperation with world-class banking chains and our product is being tested in Germany, the Czech Republic, Sweden, New Zealand and the United Kingdom.

What are your successes in the Fintech field?

FinTech culture in Latvia and other countries is very active. So we are very proud to be the winners of the biggest competition in Baltics for startups developing financial technologies, as well as to win TechChill 2016. We have also been in the TOP 20 in Europe’s leading startup event Slush. So I can say that these are very important successes for us in the FinTech field, which have helped us to get to the place where we are now.

What was the biggest outcome from winning Rietumu Fintech Challenge 2016?

Let’s say that all this B2B sales business with banks is built on trust. So every specialised event that is based on the FinTech field gives you confidence that someone has seen your product. In preparing for the competition last year, we had a defined technology, but we lacked a clear understanding of its applicability. However, the presence of many mentors from the banks and other large financial enterprises gave us the chance to understand whether our service was useful and appropriate for them. Moreover, the large number of foreign experts involved helped us to understand whether our service was viable beyond the borders of Latvia. Our success in this competition is our quality mark and a reference we often use in order to increase the credibility of our brand.

Why would you recommend others to join the Rietumu Fintech Challenge this year?

As I mentioned before, it is always useful to get advice from mentors from banks and other experts. This challenge will help you to understand where you are now, compared to other companies and products in the region. You can see your weaknesses and subsequently improve them to make your product better. And of course, it provides publicity and brand awareness, which helps you to develop your product.

Good luck to everyone taking part in this year’s Rietumu Fintech Challenge 2017!

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