Loan comparison platform, where by filling in one application consumer receives individual loan offers from several lenders. Altero.lv is great marketing channel for lenders to attract best suited customers. Altero.lv is a disruptor in financial brokerage field. Altero.lv went live on June 2016 and since then 40 thousand consumers have used the platform to compare loan offers. In time period from June 2016 till August 2018 there have been issued 23.9 million euros via Altero.lv platform.
So far we have partnership with 13 lenders – both banking and non-banking sector lenders. Over all in Latvian market there are approximately 60 lender brands. Even though the products seem the same – non-guaranteed loan – but the credit policies differ by every lender. Second obstacle that pushed founder to develop Altero.lv – to disrupt the existing financial brokerage market.As there is a consumer segment that doesn’t comply with their home bank credit policy they usually continue searching for loans and most of the time they end up at financial brokers office. Mostly the financial brokers charge commission 2% from loan amount. So Altero.lv founder saw an opportunity– automated loan comparison platform.