PAIR Finance impresses with innovative business idea and wins “Diamond Star” Digital Banking Award
Last night, Handelsblatt and conference provider Euroforum awarded the “Diamond Star” Digital Banking Award for the fourth time in line with the Handelsblatt Banking Summit. The winner in the ‘Later Stage Fintech’ category was PAIR Finance, a digital claims management and debt collection company which was successful against two other candidates. All the winners across the four categories in total were fintechs who set themselves apart with innovative solutions for the finance industry.
Although we live in the digital age, the debt collection industry is still very traditional. Traditional debt collection service providers tend to approach the customer via analogue means, with no specific customer focus. PAIR Finance has adopted an innovative approach based on psychological findings and machine learning, the personal situation of the defaulting customer is taken into consideration when they are approached about their outstanding debt, using behaviour-based, data-driven strategies to make the customer more inclined to pay. They are contacted via a communication channel that suits them and end customers often have a completely different of debt management than the negative image often associated with it. “It is respectful, user-friendly and, above all, customer-focussed,” explains Stephan Stricker, Founder and CEO of PAIR Finance. “The benefits of this sustainable approach for our corporate clients are clear. Debts can be recovered quicker and more effectively and the customer relationship is not damaged in the process,” Stricker adds.
It was this innovative approach by the Berlin-based company that impressed the jury chaired by Thomas Puschmann, Director of the Fintech Innovation Lab at the University of Zurich, in the Later Stage Fintech category. This category includes fintechs who are more than two years old or have received more than 2.5 million euros in funding. Alongside Thomas Puschmann, the jury was made up of eight further financial experts: Stefanie Auge-Dickhut, Co-Head CC Sourcing, Business at the Engineering Institute St. Gallen, André M. Bajorat, Managing Director of finance start-up Figo, Barbara Liebermeister, Director and Founder of the Institute for Management Culture in the Digital Agre, Jens Quadbeck from Google, internet business-owner Christoph Samwer, Oliver Vins, Founder of digital asset management company Vaamo, and Daniel Schäfer, Head of Finance Department at Handelsblatt.
About PAIR Finance
PAIR Finance is a technical, data-driven company in the debt collection and claims management sector, which efficiently collects debts from defaulting customers through digital, customer-focussed communications methods and behavioural analysis. The company was founded in Berlin in 2016 and already has more than 200 German corporate clients. The team currently stands at 30 employees led by founder and CEO Stephan Stricker.
