Do You “Know Your Employee”?
Payroll fraud is a widespread and costly problem. According to the Association of Certified Fraud Examiners (ACFE), payroll schemes account for around one in ten cases of occupational fraud and typically go undetected for 18 months. The resulting damage can be far-reaching and includes significant financial losses. On top of that, investigating and combating this […]
Creditworthiness Assessment in the Real Estate Industry
A conversation with Mittelsmann Philipp Sulek GmbH about the importance of tenant creditworthiness checks in residential letting Mittelsmann Philipp Sulek GmbH (www.sulek.immobilien) is a real estate agency based in Vienna. The company was founded in 2015 and is celebrating its 7th anniversary this year. Its corporate philosophy, experience and strong commitment to digitalisation combine to […]
7 Years of Open Banking: A Success Story
Seven years ago, a new chapter began in the world of finance. When the PSD2 directive took effect in January 2018 (read all about PSD2 here), it laid the foundation for open banking in Europe. Banks were required to share their customers’ account data securely with licensed third-party providers, but only if the customers agree. […]
Real Estate Financing: New Lending Rules for Home Loans
The new lending regulations are intended to reduce the risk of defaults. Open banking is also expected to play a more central role in the future. Current real estate prices, combined with low interest rates, have in recent years led to real estate loans being granted to borrowers with very little equity. As a result, […]
The FINcredible Legal Service
The legal tech solution for law firms Preparing a statement of assets (Vermögensverzeichnis) can be a tedious and time-consuming task for law firms and their clients. Drawing up household budgets in particular often involves a lot of administrative effort: data is missing, out of date, illegible or incorrect. This is where FINcredible’s latest legal tech […]
How Digital Onboarding Makes Processes Faster, Safer and Simpler
Onboarding is one of the most important steps in the customer journey. How it works often decides whether a deal is closed or not. The simpler and more secure it is, the higher the conversion. Onboarding processes take a lot of time and resources. To meet these challenges, companies need ways to make onboarding seamless, […]
Open Banking: The Future of Receivables Management for Creditors and Debtors
In this article, we take a close look at the challenges of receivables management for creditors and debtors. We also explore how open banking can help solve these problems and present a best-practice example: the “Sustainable Collection” programme by Social City Wien in cooperation with KSV1870. The Challenges of Receivables Management: A Painful Process Receivables […]
PSD3: New Rules for a Better Customer Experience
Update: On 27 November 2025, the Council of the EU and the European Parliament reached a provisional agreement on PSD3 and the PSR. The negotiations on FIDA, by contrast, have stalled, and it is currently uncertain whether the regulation will be adopted. On 28 June 2023, the European Commission published its proposals for the next […]