Member Article

Dutch firm using AI to determine lending risk launches six-figure crowdfunding campaign

AdviceRobo, the Dutch artificial intelligence (AI) company, has announced the launch of its new crowdfunding drive on Seedrs.

The firm, which has a UK office housed within the Level39 FinTech accelerator, is looking to raise £250k to expand its white-label offering of software and AI scoring and to expand its presence within the UK.

Founded by entrepreneurs Rosali Steenkamer and Diederick van Thiel, AdviceRobo utilises data and machine learning to help financial institutions lend to individuals and SMEs, utilising instant credit scoring technologies and early warning systems on bad debt and defaults.

Co-founder and Chief Executive, Diederick van Thiel believes that in current climate of economic uncertainty, it is more important than ever for banks and financial institutions to find new ways to manage risk when it comes to their lending.

He said: “The data explosion and the use of new technologies such as Machine Learning can help to predict risk at an individual customer level.

“This will enable banks to contact the customers in time, support them to stay financially ‘fit’ and delivers a superior customer experience when the bank is actively engaged with its customers in turbulent times.”

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