According to data from the Croatian National Bank, consumer loans in Croatia have experienced a significant increase in recent years. The annual growth rate of unsecured cash loans accelerated from 3.6% at the end of 2022 to as much as 15.9% at the end of 2024. A combination of high demand for loans and growing trust in online financial services creates the ideal conditions for the popularization of online lending. Consumers expect to obtain a loan quickly, easily, and digitally, without having to visit a branch office or deal with unnecessary paperwork.
Kredis: 100% Online Loans in a Few Simple Steps
Kredis is a provider of fast cash loans in the Croatian market, offering precisely this type of process to its users. On their platform, the entire loan application process takes place online – paper-free, without waiting, and from the comfort of one’s home. Kredis allows users to request a loan via the internet in just a few simple steps:
- Registration or login: The user first creates an account on kredis.hr or logs into an existing account (a process that takes only a few minutes).
- Selecting the amount and term: Using an online calculator, the user selects the desired loan amount and repayment term.
- Applying: With just one click, the user submits their loan request online, and Kredis immediately starts processing it.
- Approval and payout: If the application is approved and all data is correct, the money can be deposited into the user’s account on the same day.
This 100% online process offers clear benefits to users: no visits to counters, no waiting in line, and the time from application to payout can be as little as a few hours.But how does Kredis ensure that the entire process, including identity verification and contract signing, remains digital and secure? This is where Identyum comes in.
Digital Identification and Electronic Signing with Identyum API Integration
To enable remote loan agreements, Kredis has integrated Identyum’s services for digital identification (Identify) and electronic signing (Sign) through the Identyum API. This fully digitizes the entire loan approval process from start to finish.
One of the key steps in approving any loan is client identity verification, which traditionally required a physical visit to a branch and manual signing of documents.
The Identify service completely changes this by enabling remote electronic client identification. Using Identify, Kredis sends the user a request to verify their identity remotely, which the user can complete from their computer or smartphone. No special technical requirements are needed, just a smartphone with internet access and a camera, plus a personal ID document. Through an intuitive interface, the user takes a photo of their ID card and a selfie for liveness verification, while Identyum automatically retrieves all relevant data from the document. Kredis thus receives accurate, verified personal data in real-time, eliminating the need for manual data entry and greatly simplifying and speeding up the application process.
It is important to note that Identyum Identify enhances both the security and compliance of the process. All collected identification data undergoes advanced authenticity checks, comparing the ID photo with the user’s selfie, validating the document, and more. This eliminates fraud attempts (e.g., fake or stolen documents) and ensures the client is truly who they claim to be.
In addition to security, compliance with regulations is guaranteed since Identify is fully GDPR-compliant and meets AML directives. The user provides explicit consent to share their data, ensuring that Kredis meets regulatory requirements without cumbersome paperwork, while maintaining control and transparency over their personal data.
After successful digital identification, Kredis utilizes Identyum’s Sign service to sign the loan agreement electronically. Instead of printing, manually signing, and scanning contracts, users access the electronic signing process online. Upon their first identification, an Identyum digital ID Wallet is automatically created for the user, securely storing their identification data and issued electronic signing certificate. The entire signing process takes just a few minutes, and the signed document is instantly available to both the user and Kredis.
Identyum Services via API or Ready-to-Use Platform
Kredis integrated Identyum’s services via API on its web platform, ensuring a seamless user experience. For companies with their own IT solutions, this is the ideal approach, as the Identyum API enables flexible customization and rapid implementation of digital identification and electronic signing into existing business processes.
However, the Sign and Identify services can also be used by companies that prefer not to integrate through an API. Identyum offers a ready-to-use platform that can be used immediately, without any integration. Both services are instantly available online, and to access full functionality, the user needs to create and verify their digital ID Wallet (a standard part of the process).
The collaboration between Kredis and Identyum demonstrates how digital transformation in financial services benefits both users and service providers. By going digital, Kredis saves resources, accelerates processing, and remains fully compliant with legal requirements.
The Kredis example confirms the trend that online loans and cash advances will play an increasingly important role in Croatia. By using Identyum, other financial institutions can easily modernize and digitize their processes, delivering services that align with modern consumer expectations.
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