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Fintech AdviceRobo helps prevent late payments NIBC clients

Press Release -

Client interests as innovation driver for NIBC Direct

NIBC Direct (NIBC) works together with FinTech AdviceRobo since April 2017 to help it pro-actively flag mortgage clients that could fall into default. NIBC is continuously looking for ways to provide its support to clients at an early stage and has found a partner in AdviceRobo that uses inventive machine learning technology to approach these clients personally and in time. NIBC is the first mortgage provider in the Netherlands to use this early warning technology offered by AdviceRobo.

“Although the number of mortgage defaults in the NIBC portfolio is very small, NIBC wants to play an active role with its clients and prevent them from defaulting on their mortgages. This usually is an extremely impactful event for retail clients”, says Michel Kant, Managing Director of Retail Banking at NIBC.

Fintech and responsibility

Michel Kant: “Thanks to the early warnings from the inventive AdviceRobo-solution, we are even better placed to get in touch with clients proactively. Based on segmentation, we determine which clients would be best to approach first and what solutions to offer them. By doing so, NIBC is taking an important step towards leveraging FinTech tooling to improve its client service.”

Common reasons for defaulting on a mortgage are unemployment, illness or divorce. In addition to an emotional impact, this also tends to have financial implications, for instance for making monthly interest payments and/or mortgage repayments.

Diederick van Thiel, CEO of AdviceRobo: “After having scaled up our early warning proposition in the UK, Spain and Sweden, I’m pleased that Dutch banks too are interested in developing good practices based on client interests. NIBC is the first Dutch bank to apply our machine learning tool in its active servicing, showing that it takes its social responsibility seriously.”

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