Gibobs Allbanks, based in Madrid, Spainprovides Europe first comprehensive platform allowing loan/credit applicants to assess their creditworthiness, compare offers and obtain financing adapted to their specific needs and circumstances.
MIAMI, May 24, 2022 /PRNewswire/ — Global PayTech Ventures (GPT) today announced its recent investment in Gibobs Allbanks, whose cutting-edge fintech platform helps consumers, businesses and financial service providers find their perfect partner through the integration of sophisticated technology and personalized human analysis.
The platform is the first of its kind in Europe to bring consumers “out of the dark” in the process of obtaining mortgage financing as well as additional services to improve their financial “health”. Similar to Credit Karma in the US, Gibobs helps European consumers and businesses understand their financial ability to obtain financing and how to improve it. The platform goes further by assigning personal financial analysts who negotiate on behalf of each of their clients the most competitive offers for their real estate finance products, such as mortgages, payment tools and insurance, as well as loans. for construction companies, developers and real estate. players.
“The superpower here is Gibobs’ benchmarking, their ability to help consumers evaluate multiple financial product offerings and choose what’s best for them,” said Javier Perezfounder of Global Paytech Ventures (GPT).
Starting with spain mortgage market, Gibobs’ platform is consistently disrupting the European financial services market by delivering a consumer-centric platform that is both data-driven and human-centric, or “bionic” as the described Perez.
What is that
A data-driven, consumer-driven fintech platform designed to help loan/credit seekers understand their overall financial situation, understand their ability to secure various financial services, and gain a competitive analysis of the options offered by major banks and other entities participating in the platform.
Founded by Jorge González-Iglesias, a serial entrepreneur who previously founded car-sharing company Bluemove, which was successfully sold to Europcar Mobility Group, and Óscar Bañó, former Global Head of Risk at BBVA. Gibobs’ risk analysis tools allow users to understand their overall financial situation and obtain optimal financing. Gibobs initially aims spain mortgage market, approximately 400K mortgages per year, but they plan to expand into the wider European mortgage market and add additional lending services. In 2022, Gibobs plans to launch a version for SMEs.
With its multi-faceted systems designed to meet the financial needs of individuals and businesses, Gibobs President González-Iglesias compares the platform to Apple’s iOS operating system — “Gibobs is the iOS of financial services. We are changing the whole paradigm.”
“What we’re building is an ecosystem where before and after mortgage, we connect you to your finances through PSD2 so you can understand your financial situation and get a rating. We want the user to understand their complete financial situation and is then able to choose financial products in a more objective and comparative way.You are in an ecosystem specifically built around your data and your situation in order to help you make better financial decisions today and also in the future. “
How it works
- The borrower/consumer downloads his financial data, available via Europe Settlement ‘PSD2’, at the Gibobs platform.
- A financial analyst is assigned and assists the consumer through the process, from understanding their personal financial situation and the level of financing they can afford, to securing the most competitive offers for various types of financing and other products related to housing finance.
- The gibobs are paid, by the issuer or funding body, for a percentage of the total amount funded.
Why it’s revolutionary
- Gibobs’ fintech platform is the first of its kind in Europe. No other platform offers a credit score, an overall financial “health” status, as well as a competitive analysis of suitable mortgage offers.
- The process of obtaining funding Spain and other European countries is still quite archaic from a technological point of view, compared to the United States. Consumers usually have to go in person to a bank branch and go through a lengthy credit reporting process. Consumers are beholden to a particular bank’s offer without knowledge of other potentially more competitive offers from other banks, unless they repeat the process, or multiple times, with other banks.
- The platform’s unique “bionic” aspect is its “hybrid” approach combining both AI technology for data analysis and a human element to accurately understand a consumer’s goals, meet their unique financial needs and identify appropriate solutions.
“Our platform is bio-intelligent – we uniquely combine highly skilled human guidance with cutting-edge proprietary technology that uses artificial intelligence (AI) and implements blockchain technology to further disrupt the way we consume financial products. Our users can understand the state of their financial health and expedite funding processes. Qualified clients receive personalized advice from a dedicated senior financial analyst who negotiates on their behalf with banks and advises them throughout process to help (users) make the best financial decisions.” says González-Iglesias.
- Gibobs has a current Net Promoter Score (NPS) of 87.
- 80% quarterly user growth.
- 50% quarterly growth in gross commodity value in terms of mortgages.
- More than 15 major banks in Spain participate on the Gibobs platform.
While Gibobs is consumer-focused, the platform also provides a much-needed technical interface for financial entities, real estate agents and buyers. “We have invested significant resources in very advanced original technology,” says González-Iglesias. Banks benefit from the platform’s ability to identify the specific types of mortgage customers they want, for example, by leveraging technology they typically don’t have.
“We have a strong impact on an industry that is at a very early stage in its journey towards digitalization. Financial institutions need technology tools for process optimization like the ones we provide.” Gibobs’ goal, says González-Iglesias, “is to create a community of empowered users that we will help make good decisions and better understand their finances.”
Global Paytech Ventures (GPT) is a venture capital firm that invests in early-stage paytech companies seeking to raise seed, Series A or Series B funding. GPT is led by Javier Perez and his sons, Daniel Perez and Kristofer Perez — each have extensive expertise in the payments industry. GPT was founded by Javier Perez, who spent 25 years at Mastercard, including 15 years as President of Mastercard Europe. Under Perez’s leadership, Mastercard Europe has been recognized as the innovation leader in payment technologies. GPT helps payment technology companies succeed globally through their unparalleled expertise in the payment technology ecosystem and comprehensive network of industry contacts.
SOURCE Global PayTech Ventures