Moank: on a mission to transform lending


When looking at the fast-growing lending market in Sweden, Moank could see an opportunity to give more customers a fairer lending decision by mixing industry-leading tech with a personal touch. How are they doing this? By partnering with Tink to build a more inclusive credit scoring process, and encouraging employers to get involved.

Taking a line of credit is something that most people need at some point in their life, but borrowing can often be seen as a negative transaction. In an industry littered with payday lenders, customers paying exorbitant interest rates, or people being excluded from mainstream credit altogether, Moank wanted to show that it’s possible to lend in a way that’s respectful to the customer, while also being profitable for businesses.

An inclusive approach

Moank teamed up with Tink to deliver on the tech that allows for seamless loan applications, and combined that with their personal touch to guide more customers towards a better deal.

By using Tink to aggregate applicants’ financial data – including bank account transactions, savings and debt – into their app, Moank gets a really broad picture of a person’s financial situation. Moank’s algorithm then gets to work on analysing the data, and combines the results with what you get from a traditional credit scoring company (such as UC).

At this point the customer almost always gets a call from Moank in order to add some colour to the data. Is there a story behind someone’s circumstances? Did the customer have difficulty in the past, but now it looks like things are going much better?

Adding a human touch to the decision-making process means applicants that might otherwise be offered a high interest rate or automatically be rejected by other lenders can get a good deal with Moank – just like those with a straightforward credit history.

Letting employers pitch in

Moank also lets applicants borrow through their employer, making loan payments straight from their gross salary. The main benefit? It reduces the interest rate charged because the likelihood of defaulting on the loan is slashed.

As an employer, offering access to loans at a reduced rate can be a ‘nice to have’ benefit that helps increase loyalty with no costs attached. While the employees save money, they also increase their chances of being offered a loan in the first place, as their company can effectively vouch for them.

Closer to customers

Moank isn’t just doing this to make applying for a loan a more painless process – being able to get closer to their customers and take a more flexible approach to lending is the ultimate goal.

Most classic lenders only look at mainstream credit assessments to make a decision, so if people don’t qualify there is no chance they will get the loan. Moank’s partnership with Tink helps it look beyond that and really understand the economic situation of its customers, creating an inclusive service that brings financial happiness to more people.


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