Berlin-based FinTech CrossLend wins the Handelsblatt Diamond Star Award for “Best Innovation in Banking and Fintech”

08.09.2021

The award goes to CrossLend’s “Debt Operating System”. This technology enables end-to-end loan or loan portfolio transactions through its digital asset platform. The system starts by automatically importing, repairing, and cleaning up loan data files. It then digitises the files and provides a wide range of analysis tools, from managing loan data all the way up to pricing loans – all in real time. In addition, any communication between the loan originator and the investor can be handled via the platform. The settlement of transactions then takes place via an integrated digital securitisation, also in real time. 

CrossLend’s debt operating system thus helps credit institutions to establish smooth and efficient digital balance sheet management. On this basis, strategic projects can be set up with greater ease. Such projects can include the industrialisation of balance sheets and RWA relief, as well as originate-to-distribute models, or the dynamic control of existing balance sheet relief mechanisms. Integrating cross-border financing and forming syndication partnerships are also greatly simplified. In this way, the technology contributes to the integration of European financial markets. It also reduces the levels of error and risk which have accumulated due to a lack of digitalisation in the lending landscape.

With regard to emerging integrated credit products, such as product-linked financing, CrossLend’s Debt OS enables credit institutions to set up capital market refinanced products, the high transaction speed of which would strain the ability of traditional investment banks.

“The transformation of loans into digital assets and the availability of all loan data in real time are the key elements of agile balance sheet management. This functionality forms the backbone of any contemporary, customer-focused loan product, enabling banks and FinTechs to better serve their customers. We are very happy that the impact of this technology has been recognised by the jury and that the importance of digitalising banks’ backend processes is now in greater focus,” says Oliver Schimek, CEO of CrossLend GmbH.

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About CrossLend
CrossLend is a FinTech company that provides full spectrum technology for loan asset transactions. Its mission is to make the world’s lending and investment ecosystem more efficient, transparent, and profitable. Supervised by BaFIN and CSSF, CrossLend is backed by an array of prestigious equity investors from Europe and the US, including Mouro Capital (formerly Santander InnoVentures), Lakestar, CME Ventures, Earlybird, ABN AMRO’s Digital Impact Fund, and the Luxembourg Future Fund (EIF and SNCI). For more information, visit crosslend.com

Media contact
media@crosslend.com
+49 30 208 488 100

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