The increase of KSV1870’s shareholding in FINcredible to 58.6% is the next logical step for the KSV1870 to enable the internationalization of FINcredible GmbH at a faster pace. In conjunction with the majority shareholding, Michael Pavlik was appointed as the third managing director of the start-up. In this role, he will primarily be responsible for sales and future expansion.
Since 2019, KSV1870 has been a strategic investor in FINcredible GmbH, a spin-off by scientists from the Vienna University of Economics and Business. The creditor protection association recently increased its stake to 58.6 percent and thus took over the majority rights.
“With the increase in our stake in FINcredible GmbH and the appointment of Michael Pavlik as the third managing director, we are underpinning the strategic importance of our investment and see this as the basis for a stronger international presence together with the FINcredible team in the future,” explains Mag. Ricardo-José Vybiral, MBA, CEO of KSV1870 Holding AG. The aim is to establish and gradually promote the existing range of well-founded KSV1870 data and PSD2-based information in the area of creditworthiness queries in order to generate improved added value for KSV1870 customers.
Partnership as the basis for internationalization
In the area of credit checks, competition has intensified in the recent past. Factors such as trust, topicality and objective information, played out within a few seconds, are more than ever the focus of current customer expectations. “The credit bureau industry is changing rapidly internationally and is being shaped by regulatory measures and new business models. The even closer cooperation with the KSV1870 in the future gives us the opportunity to act as a pioneer in an innovative environment focused on speed,” says Christian Ochs, PhD, Managing Director and Co-Founder of FINcredible GmbH. In order to be successful in this environment, high-quality data is required that is verified on a daily basis and can be accessed 24/7 in order to minimize the economic risks for customers as best as possible.
Bank account data based on PSD2
FINcredible collects real-time information based on verified bank account data that is updated daily. The legal basis for this 100 percent GDPR-compliant process is the Payment Services Directive II (PSD2), which has been in force throughout the EU since 2018. The protection of the privacy of the queried person has top priority. The services of FINcredible GmbH, which function on the basis of PSD2, offer the possibility of providing comprehensive and validated decision-making bases in the ID and creditworthiness area with the help of objective financial information – for example in the context of renting real estate or the automated collection of household bills for loan financing.
Third managing director with a sales focus: Michael Pavlik on board
In order to further intensify the growth and expansion course of FINcredible GmbH, Michael Pavlik (42) will be part of the management team and optimally complement the two previous managing directors, Christian Ochs and Stephan Gasser.
Thanks to the new distribution of roles, it will be possible to bundle competencies even more specifically than before and to further increase the scaling of all departments. “We are pleased to welcome Michael Pavlik on board and are convinced that as a company we will benefit from his diverse skills in the long term,” says Dr. Stephan Gasser, Managing Director and Co-Founder of FINcredible GmbH. Born in Lower Austria, he has been with KSV1870 since 2005 and has around 15 years of sales management experience. Since 2018, Pavlik has been responsible for the entire sales of the KSV1870 Group – in the future also those of FINcredible GmbH. The proven sales expert will perform the new role in parallel to his previous duties as Head of KSV1870 Sales.
Source: KSV1870 Press Release