In September 2014, the financial technology developer Vivalte & Co acquired startup Decider Lab specialised in credit decision automation software development.

Decider Lab, established in 2012, is a startup that develops software to automate credit decisions and carry out customer background checks prior to credit issuance. The Decider Lab platform is used by banks and small credit issuers that need an efficient and speedy credit decision automation platform. Credit decision automation solution was not in the new owners Vivalte&Co product selection until the acquisition.

According to Lauri Ilison, the founder of Decider Lab, the creation of the Decider Lab automated credit decision software was a great and interesting experience for the whole team. „Decider Lab started growing in the Tallinn Science Park Tehnopol Startup Incubator when we joined the business incubation program at the beginning of 2013. Today the service and its technical platform have been fully developed and the enterprise has a strong client base.“

According to Peeter Klanberg, the CEO of Vivalte&Co that now owns Decider Lab, the synergy of the two companies lies in product development. „We have already completed the first joint product called UNION, which combines a financial company’s base platform with standard financial products and the credit scoring software of Decider Lab. These are complementary products that ensure strong export capabilities by focusing on financial technology,“ added Klanberg.

Therefore, credit issuers can take advantage of an excellent solution that covers loan contracts, automatic decisions and the entire subsequent process of credit contract management. UNION is a platform that allows financing companies to start credit issuance, currency exchange, and quick and efficient payment services outside the home market.