Nowadays people are ordering products and services online with one-click and without any media discontinuity. But, the debt collection process followed by finance industry is still very traditional, static and old-fashioned branch of the financial sector. It may be based on threats, written letters and manual processes, lawyers and court processes. Some players often act “offline” and sometimes customer disorientated also. With the aim to settle open debts digitally with a more consumer oriented approach Pair Finance came to existence. Pair Finance contacts the digital debtor through channels it uses most: E-Mail, SMS and messenger service, contacting him at the right time, with the right message and offering an individual solution. With an integrated individual payment link, he can choose his preferred payment possibility and settle his debt online within a few seconds.
Digital, Customer-friendly and Goal-oriented Approach
As a Fintech company, Pair Finance develops a revolutionary concept in the debt collection industry. By combining multi-channel communication and proven data-driven behavioral research the debt collection process is much more individualized and accelerated. The whole technology is self-developed and based on Artificial Intelligence. Pair Finance had changed the analog and conservative traditional industry and established a digital, customer-friendly and goal-oriented approach for debt collection.
Effectively Utilizing Advanced Technologies
The Technology of Pair Finance consists of a self-learning algorithm that collects data before and during the debtor interaction continuously and classifies him in regards to his digital behavior to gain a specific idea about the typology of the debtor. Patterns are recognized with the use of AI, the most efficient approach for each debtor is developed. Debtors are addressed individually and different payment possibilities are offered. Psychologists helped to define strategies and understand the debtor mindset. The goal is to provide debtors a quick and easy solution to settle outstanding debts without straining the customer relationship.
Motive Force of Pair Finance
Stephan Stricker is the Founder and CEO of Pair Finance. He oversees the strategic and operational development of the company with a focus in Marketing, Sales, Finance, and Operations. Stephan favors quick decisions, dynamic and digital processes, always striving for optimization. But most important, he has a very strong market drive. Motivation and team spirit plays a particularly important role for Pair Finance. Every single team member brings a unique feature to the table – from AI and data science to the operative debt collection and digital advertising knowledge. Stephan feels very strongly about a steady knowledge exchange among each other, the individual personal development always focusing on the market. Everyone in the company has the opportunity to make a difference and leave its traces on the further development of the company and the industry.
Stephan brings with him years of experience at HitFox. He was responsible for the internationalization of ad2games, founding entities in San Francisco and São Paulo and, lastly, oversaw as Managing Director the strategic development of nevaly. In addition, he has experience in online and mobile marketing, team and company building as well as consulting for KPMG. Stephan holds a Master’s degree in Business Administration and has studied in Germany and Australia.
Improving Efficiency through the Simplified Solutions
Open claims are often an existing threat for companies (especially for the eCommerce industry), but sadly not a priority of many CFOs and CEOs. Pair Finance offers an easy solution for every company to solve this problem with individual technical integrations, reportings, and feedbacks. Fully automated processes between Pair Finance and their partners enable an easy fix to reduce the damage caused by open claims.
Creating the Strong Footprint with Technological Innovations
Pair Finance is backed by strong investors and Europe’s largest Fintech company builder, Finleap. “Regulations can become challenging but should not be show-stoppers, when you strive to disrupt and positively change an industry. You need to align technological innovations with (sometimes old-fashioned) regulations,” asserts Stephan while talking about regularity challenges.
Strategies for Success
The strong cooperation with Finleap enables Pair Finance to open doors in various financial industries. Located in Berlin, Pair Finance is well positioned to attract different stakeholders from the entire European Fintech ecosystem. The established Network helps Pair Finance to expand its customer base, raise capital, find talents and bring new partners on board.
Pair Finance is smartly working with an enthusiasm to be No. 1 Partner in debt collection in the European digital economy. They want to expand the business model to multiple sectors along the value chain, nationally and internationally. From receivable management to data enrichment and credit-scoring. But step-by-step; currently their focus is to conquer the German market. Pair Finance is highly focused on building a strong self-learning algorithm which is based on newest the AI Technology.