Case Study: A New Direction for Credito

Working with Israeli-based credit rating company Credito to deliver smart credit solutions to its customers, and to help shape the company’s future against the backdrop of a complex and ever-changing financial landscape.

What began as a consumer loan service, Credito expanded its operations in 2016 to include peer-to-peer credit solutions for both institutional and private investors.

Today, its goal is to create real and calculated value for households and lenders, allowing borrowers to pay lower interest rates while minimizing risk to lenders.

Credito approached Ignite to develop a credit score algorithm to underpin a system that assigns (calculates) a credit rating for borrowers, based on specific criteria such as age, employment, and income.

Ignite started by bridging knowledge and cultural gaps between our team in Ukraine, and the Credito team in Israel.

A seamless knowledge transfer was vital, allowing both teams a clear understanding of the other’s skills, expertise, and limitations.

From 2013 onwards, Ignite has provided data storage, calculation scoring, statistics, dashboards, and user interface improvements for the Credito website.

And in 2017, when Credito expanded their services once again to include housing cooperatives, Ignite developed new technology from scratch, updating the credit score algorithm we’d previously written in the process.

We’re pleased to report that it has become their strongest and most successful service.

Ignite continues to work closely with Credito, providing full stack development, quality assurance, and business advice.