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Sikoia and IBM: delivering data-driven decisioning to the next generation of fintechs

By Alastair Bulger posted Thu May 27, 2021 01:41 PM


Sikoia and IBM: delivering data-driven decisioning to the next generation of fintechs

Speak to anyone working in financial services, and they’ll tell you it’s an incredibly exciting time in the industry. The rise of a new generation of fintechs. New and important industry standards such as Open Banking. These are inspiring a wave of innovation that’s revolutionizing how financial institutions engage with their customers. Financial data, whether related to consumers or businesses, has become increasingly accessible in real time and on-demand through the proliferation of new service providers and publicly available online repositories.

Or at least … that’s the theory.

The truth is that the gap between vision and reality has never been so big. Just think back to the last time you applied for a mortgage, or a small business loan: these processes are too often time-consuming, inefficient, and seemingly much the same as they were ten years ago – and that’s true for the vast majority of customers.

Many companies that provide financial services have been built with a custom – and costly – back-end that has accumulated over time to match their unique needs. Even when automated, processes are often document-driven and rigid. Considerable time and effort is spent double-keying, manually verifying, and just making things work. From a technical perspective, implementing and managing a fast-evolving credit ecosystem is less an opportunity, and more a significant challenge that exponentially increases the code to maintain.

The reality is that when a company makes a lending decision, too often it requires juggling internal systems and external providers, and laboriously processing and integrating data from multiple silos. Too much time is wasted on these routine procedures, and the most valuable insights are too hard to implement. Products can’t reach their full potential; and customers don’t understand why.

That’s where Sikoia comes in.

Sikoia helps financial service providers make better and faster decisions by making fintech work as it should. With our extensive data and API integration library accessible through a single interface, we can enhance your existing workflows and processes without IT infrastructure burden, by unifying all your consumer data into a single actionable layer, whatever the source, and integrating standard services such as AML, identity checks, Open Banking, and more.

Unlike other providers, Sikoia has been designed from the ground-up to help you manage the most complex and ambitious use-cases, surfacing additional capabilities and insights seamlessly to match your requirements. In addition, Sikoia’s single access API allows insight to be extracted from your decisioning processes like never before, providing rich insight and optimization opportunities.

Today we’re pleased to announce that we’re out of stealth mode and are accepting new partners to our Beta program. For more information, please visit our website:

Sikoia offers bank grade security from day one thanks to IBM Hyper Protect

Sikoia processes financial data, from bank transaction data through to credit data, and as such we require enterprise-grade infrastructure to manage that in a sensitive, GDPR-compliant manner, and ensure rigorous security and audit policies are enforced.

To meet the standards that our customers demand, Sikoia joined the Hyper Protect Accelerator to make use of IBM’s expertise in containerization, databases, and security, as surfaced through the Hyper Protect suite of services. Sikoia also begun live trials with IBM Watson Machine Learning as part of its integrated analytics engine, to discover and surface insight automatically. In fact, the capability that IBM provides is a critical part of our solution offering.

Take the Next Step

IBM Hyper Protect Accelerator empowers early-stage fintech, healthtech, and insurtech founders with solutions that collect, store, and/or transmit sensitive customer data. We recruit startups from across the globe that are less than $1M in revenue and less than five years old to build and scale their businesses through access to IBM Cloud credits and business and technical mentorship. Learn more here.