neusta fintech solutions has been part of our group of companies since April 1, 2023. This enabled us to expand our service portfolio to include digitalization solutions for the financial sector. The team led by Andrea Klanke and Dennis Wöltje has now gained a new partner for the digitalization of credit processes in the corporate client business: Teylor AG from Zurich. Andrea Klanke and Dennis Wöltje explain what the partnership between neusta fintech solutions and Teylor is all about in the following interview with Teylor CEO Patrick Stäuble.
Dennis: Patrick, what exactly does Teylor AG do?
Patrick: Teylor develops technologies for the digitalization of credit processes. We specialize in lending to small and medium-sized enterprises (SMEs). In the last ten years, there has been great progress in terms of digitalization, especially in the private customer business. However, corporate customer business is lagging far behind and processes are still largely manual and paper-based.
Dennis: Why is digitalization in corporate banking progressing comparatively slowly?
Patrick: SME loans are a loss-making business for many banks and have therefore not been a priority in recent years. However, digitalization has now brought SME loans back into the focus of bank decision-makers. This is because digital processes allow banks to reduce costs, massively shorten processing times and noticeably improve the customer experience.
Andrea: What is Teylor's approach, how do you solve the problem?
Patrick: We originally developed our technology for the Teylor credit platform, which we launched in Germany in 2018. Initially, we brokered loans from partner banks via the platform. We now grant a large proportion of loans via the Teylor loan fund. Following the initial success of the platform, banks became aware of our technology and expressed their interest. We then structured our technology into a software-as-a-service offering. As part of this offering, the Teylor platform provides a digital credit application route, digital underwriting or credit management, for example. The advantage of this approach is maximum flexibility. Banks cannot change their entire systems from one day to the next, as this entails major economic and technical risks. Teylor's modular approach enables step-by-step digitization.
Dennis: You also offer a Lending-as-a-Service (LaaS) product. What is it all about?
Patrick: The offer is aimed at specialized financial institutions such as factoring or leasing providers, among others, who can now use Teylor-LaaS to broker Teylor financing in addition to their own offerings. We integrate our digital application process on their website in their company's own branding. For example, a leasing provider can conveniently arrange a Teylor loan or factoring financing for its customers on its own website. The embedded finance solution is also interesting for B2B providers outside the financial sector. For example, a car dealer could offer digital vehicle financing via Teylor-LaaS or a travel company could offer financing for business trips.
Dennis: Andrea, can you explain exactly how the partnership between neusta and Teylor works and what we expect to gain from it?
Andrea: Embedded finance has enormous potential for the future and also offers neusta fintech solutions opportunities to significantly expand its customer base outside the financial sector. We are more than just a service provider for the digitalization and optimization of financial processes: With our banking expertise and our fintech network, we can offer our customers innovative added value. Because truly groundbreaking success is achieved through genuine innovation - but not everyone has to reinvent the wheel. We see our partnership with Teylor in this light. Through the symbiosis of Teylor's innovative solutions and our knowledge of project and process management, we can offer our customers a completely new approach to the digital transformation of their financing business.
More information about Teylor: teylor.com
More information about neusta fintech solutions: neusta-fintech.de
