The digitization of the legal industry is often viewed with a view to new digital business models in the area of ​​consumer rights. In addition, digital companies are also transforming what is perhaps the most classic legal service: debt collection. The use of artificial intelligence is a response to the increasing pressure to innovate, especially in receivables management.

Mathias Kadler is General Counsel of PAIR Finance GmbH - a fintech company that is revolutionizing the debt collection market. With a self-developed technology whose algorithm is based on artificial intelligence, PAIR Finance offers a digital and individual payment solution for defaulting consumers. For Kadler, this means: Highly dynamic work and a lot of creative freedom in an innovative environment.

Stephan Stricker built one of the most successful fintechs in Germany. One that was profitable after just a few years. Pair Finance operates digital debt collection services. With this, Stricker also wants to improve the image of the industry. (...) In the new episode of "So techt Deutschland", Stephan Stricker explains how the entrepreneur deals with criticism of the industry and how he sees fintechs in Germany.

Stephan Stricker is CEO and founder of Pair Finance, a German fintech that, as reported, also launched in Austria a few months ago with its digital debt collection solution. In PaymentTalk with hosts Karl Zettl and Matthias Horvath, he takes questions from experts Peter Neubauer, publisher of ForumF and CEO of vipaso, and Christoph Heinzle, Managing Director of Unzer, in the brutkasten studio.

Stephan Stricker, founder and chief executive of debt collection service provider Pair Finance, is taking a similar approach: "Thanks to modern technologies such as artificial intelligence, we are now able to address individuals individually via their preferred channel and at a time that is convenient for them, and offer them a personalized solution." (€)

The debt collection fintech wants to teach its customers how to handle money better by working together. It currently reaches over one million people a year.

Fabit, the digital coach for better money habits, and PAIR Finance, the leading fintech for AI-based debt collection and management, are cooperating with each other. Together, the companies want to use artificial intelligence, machine learning and behavioral science to enable consumers in Germany to manage their money better.

Berlin-based debt collection fintech Pair Finance and Fabit (derived from "financial habit") are now announcing their collaboration. Pair Finance uses artificial intelligence, machine learning, and behavioral science to get delinquent payers to pay their bills. "Debt collection is about working with and contacting people who have completely different needs and reasons why they can't meet the debt," Pair Finance told Payment and Banking in an interview.

PAIR Finance founder and CEO Stephan Stricker: "All companies whose customers are shopping, banking and car-sharing online are in good hands with us. We currently have more than 300 well-known business customers, including Zalando, Sixt, ShareNow, Home24, Versicherungskammer Bayern and Jochen Schweizer."

Minou Goetze teaches decision psychology at the Fresenius University of Applied Sciences in Hamburg and consults for the debt collection company PAIR Finance on the side. She knows: "Many people are contacted by a debt collection agency at least once in their lives. Debts are quickly incurred when the bill disappears under a pile or you've been away for a while. The question then is how to deal with it."

FinTech PAIR Finance is one of the success stories in the German start-up scene. Co-founder and CEO Stephan Stricker had the idea of optimizing collection processes based on AI. PAIR Finance now works for major customers such as Zalando - which promptly acquired a stake in the company.

Pair Finance is one of the few German financial startups that actually makes money. And not recognizably at the expense of growth. But rather, to a certain extent, as a result of growth. Specifically, revenues more than doubled in the past fiscal year. How does Pair Finance do what other fintechs don't even try?