Finland-based fintech Saldo Bank, focused on automated credit solutions, has introduced term deposits services along with loans for consumers and SMEs across Lithuania

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Finnish fintech lender Saldo Bank?continued its expansion of the product range and local presence with term deposits, along with the existing offering of consumer and SME loans.

Saldo Bank’s current credit solutions (flexible loans and car financing) are built on a fully automated lending engine, able to provide instant personalised loan offers with streamlined customer onboarding and scoring processes.

In addition, the company’s proprietary loan system ensures responsible lending and supports business growth internationally. Saldo’s?scoring system allows the fintech to check the customer’s solvency and financial health, customising loans based on each customer’s individual circumstances. The system connects easily to partner systems, to increase the volume of available credit data.

The fintech?adopted a new development strategy in 2019, now on its way to the transformation from a domestic business into an international neobank. The fintech received a specialised bank licence from the European Central Bank in October 2021. Now, Saldo Bank plans to introduce new banking services, including payment cards in the regions where it already operates such as Finland and Sweden.

In 2022, Saldo Bank integrated with?Inventi’s SEPA CT and SEPA Instant CT Connectors for SEPA payment processing, regulatory reporting to the Lithuanian State Tax Authority and integrating with Lithuanian Center of Registers. Access to SEPA payment processing will improve Saldo’s existing operations and help the fintech introduct new financial services.

In future, Saldo Bank aims to grow its local team and expand to further countries. Therefore, the company would require professionals in software development, digital marketing, analytics, scoring, risk management, AML/KYC processes and product development.