Finora Capital

Our Digital Core and Credit Scoring solutions and client first philosophy helped Finora launch and grow their online business in a fast and effective manner.

Country: Estonia

Segment: Consumer Finance


Finora Capital is a fully online provider of loans, mortgages and hire purchase in Estonia. 

On launching their business in 2014 Finora’s challenges included the need to demonstrate a robust IT system to secure their creditors license; need to avoid fraudulent and low quality requests and a mismatch between costs and revenues in the start-up phase.

Union.core was implemented as the backbone of Finora’s operation, allowing them to manage client data, transactions and relationships in a single place; process transactions and provide clients with statements and notifications.

Centralised product configuration and integrated documents help keep back office administration and operational risk low.

Automated general ledger accounting ensured accurate data and valuation, while real-time reports are available for management and the regulator.

Union.score is integrated to credit score new loan applications 24/7/365, allowing Finora to automate the entire lending life cycle from origination to validation and management. A full audit trail is provided for each transaction.

Implementation support and training were provided to accelerate adoption and a No Capex pricing structure preserved cash during the critical early stage.

As a result Finora satisfied the regulator they had appropriate systems, processes and disaster recovery, becoming the first firm in Estonia to receive a creditors license. Management time was freed to focus on core competences and acheive a successful launch.

Finora have subsequently grown quickly and successfully tapped capital markets, the investment case aided by low loan losses and cost efficiencies. As our relationship has developed we have created new functionality to support Finora’s entry in to corporate lending.

For further information on the transaction please contact us.