Approve all creditworthy customers
Untitled design.png

Novum Bank achieves a 14 percentage point GINI uplift with Nordigen 

Novum Bank achieves a 14 percentage point GINI uplift with Nordigen 


Nordigen has helped European consumer lender Novum Bank achieve a 14 percentage point GINI improvement in Spain. 

In 2016 Novum Bank set out to improve their scorecards in Spain for their consumer lending product. The bank's biggest underlying challenge was understanding the spending behaviours of their so-called 'thin-file' customers or clients with incomplete or non-existing credit histories. Novum Bank turned to Nordigen to test how insights from customer account information could solve the problem.

Over the course of four weeks, Nordigen and Novum Bank's Data Science team tested Nordigen's transaction categorization and behavioural scoring engines. The tests sought to determine whether they improved the overall accuracy of Novum Bank's scoring models. 

The results revealed a 14 percentage point GINI coefficient uplift on top of all other existing data sources, including credit bureau data. The achieved results were sufficient to add Nordigen data points to Novum Bank's scorecard. 

Filip ten Bruggencate, Head of Portfolio Strategy at Novum Bank Group added that “Nordigen categorization adds significant value to our bank transaction data reports, by making them much easier to interpret. The categorization saves us significant time in contrast to finding out what each transaction means on our own.”


“Novum Bank is on the cutting edge of technology and it is fascinating to work with their data science team. We strongly believe that the future of credit scoring is in the ability to leverage the opportunities of Open Banking. Our partnership with Novum Bank is a great example of this.”

Rolands Mesters, Nordigen CEO

About Novum Bank

Novum Bank Limited is a private credit institution licensed in June 2009. The financial organisation is regulated by the Malta Financial Services Authority (MFSA) and operates in Spain, Germany, Austria, and France. Novum Bank aims to provide innovative financial products, make them easily accessible and deliver those products and services in a simple and efficient manner, leveraging technology to achieve this.


How can we help you grow?