The only constant is change.
Digitising traditional banking products is a key step towards modernising the financial sector and strengthening financial inclusion. Our goal is to empower people to use complex financial products and benefit from the advantages of digital transformation.
Paydentity
Credit-financed goods for commerce. Mobile & digital.
Paydentity enables our customers to conclude loans for financing goods digitally and locally. A registered user has the opportunity to purchase credit-financed products from any merchant offering Paydentity. No need to wait, just by using your mobile phone. Just scan the QR code, check out and take the product along.
Advantages
- Lower transaction fees
- Increase in sales
- Instant availability
- Simulation of an instalment purchase
- Maximum security
- Mobile and 100% digital
How financing works
In cooperation with the BO1 partners, Paydentity handles the legitimation and creditworthiness check completely digitally. The identification required before any loan financing can thus be simplified and carried out more quickly.
Loan and Credit Rating
During registration, our partner Solarisbank AG checks the customer’s creditworthiness and, if successful, provides the consumer loan. The credit rating determined by Solarisbank is completed by data from our partner Boniversum and leads to the user’s individual paydentity score.
Account access
Thanks to the PSD2 licence by FinTecSystems GmbH, we receive access to the customer’s bank account after the customer’s permission. Via the Open-Banking-Interface, risks can be assessed more precisely under high security standards and all income and expenditure can be analysed on a daily basis.
Proof of identity
At each checkout, the identity must be confirmed with the KYC process. In just a few minutes, the AMLA-compliant identity check is completed using VideoIdent from IDnow. The process is fully integrated into the checkout process – there is no need to leave the application.
Check your credit rating in advance.
Paydentity offers a non-binding credit check before the completion of an instalment purchase. Based on a requested amount, it can be checked whether and at what conditions a credit agreement is possible. The customer receives the result immediately.
In this way, if the customer is interested in a particular product, it can be determined whether the planned instalment purchase is within the customer’s financial capabilities.
How do the goods get into the Paydentity system?
With the web tool developed by BO1, traders can decide which products should be offered via credit financing. The system also generates sales statistics, is easy to use and provides the interface between the merchant and the customer.
For a new transaction, a QR code is generated with which the customer can start a credit process directly in his Paydentity app.
Overview of the functions
- Register products
- "Single Entry" for impulse purchases
- Start transactions
- Create QR codes
- View sales statistics
How does the transaction work?
All products that have been registered with the BO1 merchant portal can be financed immediately.
Financing Request
Customer scans product QR code with mobile phone and completes checkout process.
Check & Approval
After successful identification and verification of creditworthiness, our partner bank releases the financing immediately.
Retailer receives money
After the prescribed period of 14 days, the total amount will be transferred to the trader.
Partners
Briefly explained
What does KYC mean?
KYC means “Know your costumer” and is a procedure for identifying people. As a credit intermediary, we are required by law to identify our clients before entering into business transactions. We use the VideoIdent procedure from IDnow for this process.
What is Open Banking?
In order to promote innovation and competition, uniform standards for electronic payment transactions (PSD2) have come into law in the EU. The financial institutions were obliged to provide interfaces (API) to enable third-party providers to access customer data.
The exchange of data, which takes place under high security standards, is generally referred to as Open Banking and only takes place if the customer has given his explicit consent.
What does the term Paydentity stand for?
Paydentity is a combination of the terms payment and identity. The term is intended to express the user’s financial identity, especially in the context of advancing digitalization.
Your money deserves more.
The BO1 account is a simple, all-digital bank account that is currently in development. As a first or second account, it’s perfect for finally earning interest on your money again. We are planning a pre-onboarding later this year – with benefits for everyone who registers in advance. It could be around the end of the year, so be sure to keep checking back.
Advantages
- Faster processing
- Lower costs
- Removal of intermediaries
- Less accounting effort
- Higher security
What BO1 offers
Partners
Briefly explained
Was sind Wallets?
It serves as the basis for tokenization. With their help, rights, ownership, material assets and assets of all kinds can be mapped and digitized.
Welche Vorteile haben Smart Contracts?
It serves as the basis for tokenization. With their help, rights, ownership, material assets and assets of all kinds can be mapped and digitized.
What is a token?
It serves as the basis for tokenization. With their help, rights, ownership, material assets and assets of all kinds can be mapped and digitized.
Determine individual score values only with relevant data.
Maqnet is a tool under development for the automatic real-time rating of users, products and services. Maqnet functions both as an applicative solution and as a systemically integrative API interface.
Advantages
- Real-time credit rating
- Only necessary data is requested
- Only the user has access to the data
- Anonymity until contact is made
- Higher security
What does Maqnet offer?
Users create a profile and fill it with all relevant data. This data provided by the user is combined with already existing scoring data and the user’s credit rating is calculated automatically and in real time. Simultaneously, providers of a service or product define the parameters that are necessary and obligatory for them to fulfil the service.
Partners
Briefly explained
What is tokenization?
It serves as the basis for tokenization. With their help, rights, ownership, material assets and assets of all kinds can be mapped and digitized.
What is the function of a blockchain?
It serves as the basis for tokenization. With their help, rights, ownership, material assets and assets of all kinds can be mapped and digitized.
What is a token?
It serves as the basis for tokenization. With their help, rights, ownership, material assets and assets of all kinds can be mapped and digitized.
Global arbitrage opportunities in the crypto market.
BO1 considers the crypto market as the “new” finance: global arbitrage opportunities with cryptocurrencies. The use of derivatives enables to achieve significant performance with a lower risk profile.
What does XArb offer?
A modern investment strategy used by hedge funds: Making money over a time difference.
What does this mean?
BO1 participates in a fund that, for example, buys bitcoin in October and sells Bitcoin with delivery in March (future) simultaneously.
Example: Buy for 100, sell future for 104.
The custody of digital assets, funds invested by BO1, is managed by, for example, BitGo Trust Inc. Operating in the market since 2013, their assets under custody total over USD 16 billion.
BitGo offers standards such as the CryptoCurrency Security Standard (CCSS) and SOC2, but also work with the most trusted brands in the industry, offering their clients the most extensive security currently available on the market.
The investment is a subordinated loan for a special purpose with a term of 6 months. Investments start at EUR 200,000 with a return of 2.5% every 6 months.
Warning:
The acquisition of this investment is associated with considerable risks and can lead to the complete loss of the invested capital.
Partners
Briefly explained
What is a custody solution?
Custody is a secure storage solution for crypto/digital assets and is used to store large amounts of tokens. Its main objective is to ensure the availability of private keys and the necessary information to recover them in order to access the specific assets.
What is crypto financing?
The use of derivatives enables to achieve significant performance with a lower risk profile. These are modern investment strategies used by hedge funds.
What is arbitrage?
Arbitrage generally describes the utilisation of price differences in different markets. Here, price differences between different assets, such as securities, are used to profit from the price difference when buying and selling on different markets at the simultaneously.
