Strands and Nova Credit announce partnership to empower FI digital money management tools
Nova Credit is pleased to announce an exciting strategic partnership with Strands, a CRIF company with distinctive expertise in Big Data, AI and Machine Learning, which creates highly-customizable digital money management software for top-tier financial institutions worldwide. The collaboration between Nova’s Fintech solutions and Strands finance management platform will prompt the acceleration of banking digitalization in the local market, according to the latest “Fintech 2025” initiative unveiled by the HKMA in mid-2021.
Strands is a FinTech software company, part of the CRIF Group, specialising in advanced digital banking solutions, providing a set of white-label services including personal financial management, business financial management, Engager and customer-linked offers.
Nova Credit is a credit reference agency specializing in serving banks and financial institutions with advanced customer analytics tools and financial management solutions, providing business insights for banks looking to grow their top-lines, as well as building a comprehensive digital banking ecosystem.
Through the partnership with Strands, Nova Credit will enhance its solution offerings to banks with Personal Financial Management (PFM) for retail customers and Business Financial Management (BFM) for SMEs via a SaaS platform.
API tools such as PFM and BFM, provided by the SaaS platform, are up-running smoothly in Alibaba Cloud. Alibaba Cloud is the first cloud security provider to earn ISO27001 Information Security Management System Certification in China, is well-known for its high scalability and hybrid capability features.
This collaboration in advanced Fintech solutions and AI technology enables financial institutions and retail banks to easily develop customizable digital money management applications, with the aim to help customers to make smarter financial decisions. Ultimately, the AI-driven solutions will enhance customer experience, increase customer engagement, and generate new revenue for banks through digital channels.
Samuel Ho, CEO of Nova Credit, commented: “By partnering with Strands, Nova Credit is in a stronger position to fulfill increasing demands from banks for secured, smart and highly customizable financial management API. We are delighted to collaborate with Strands’ AI-driven technology for accelerating the digitalization in banks which is coherent with the “Fintech 2025” initiative.”
Edoardo Borsari, Managing Director of Strands, remarked: “We are delighted to work along with Nova Credit which partnership allows us to continue expanding in Greater Bay Area and to assist them in evolving their relationship with clients through innovative and easy financial management solutions. Nova Credit shares with us a strategic data-driven and customer-centric approach. Accelerating the digitalization in banks means leading a new concept of financial wellness for retail and SME’s customers and helping them to make smarter and well-informed decisions”
Vincenzo Resta, Regional Executive Director of CRIF, added:“This is a clear example of how, as strategic partners, CRIF is committed to bringing to Nova Credit our competencies and innovative assets to support the development of financial infrastructure in a GBA key node city like Hong Kong. We share Nova Credit’s vision and mission in Asia and we are thrilled with the partnership between Strands and Nova Credit.”