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One of the methods by which the originators control the risk, is using a credit rate score system. This is a procedure of classifying every credit in different categories, based on the default probability (the probability the borrower to stop paying off their loan). All loans in iuvo have a score rate. This is needed so the credits from different originators can be compared
- AScore class A
The total amount of the receivables granted by the originator to users since its establishment
The total amount of the receivables issued on the marketplace by the originator
In business and financing, the term “skin in the game” is used to refer to owners or principals having a significant stake in an receivable vehicle, in which outside users are solicited to purchase. This is to ensure the expected annual returns of the originator and the user in the asset are aligned, as both have a stake in the asset/ receivable. On iuvo this means that every loan originator is required to keep certain percentage of each loan listed on the marketplace, which is their “skin in the game”. For example, if a loan originator issues 100 EUR loan to the marketplace and have skin in the game 30%, only 70 EUR of the loan will be available for users to purchase in. The loan originator keeps a stake of 30 EUR.
The year in which the company became profitable
About
AXI Card Spain provides accessible, innovative, and flexible services to their clients in the credit card segment of consumer lending. The trust, innovativeness, the loyal partnership and the individual approach help the originator to be one of the highest rated companies on the local market, and as proof for that is their golden badge award from eKomi for customer service.
AXI Card Spain is part of the portfolio of Management Financial Group (MFG).
“We, at AXI Card Spain, are really focus on having the best partners and after a lot of research we chose iuvo due to different factors: the best terms and conditions on the market, the positive feedback received from users and most importantly, the stability of the Group. We believe that this partnership gives us the opportunity for reaching a great number of users to help us grow fast. The Spanish and European FinTech companies like iuvo are highly important for the future of lending and funding market.”
Become part of one of the fastest growing p2p purchasing of receivables marketplaces in Europe