TigerGraph, the only scalable graph database for the enterprise, announced that Pagantis, a point of sale consumer finance platform for ecommerce in Europe, has chosen TigerGraph to streamline its customer experience. The move enables Pagantis to speed up its real-time risk-scoring and fraud prevention processes and reduce wait times on its application.
Spain-based fintech, Pagantis, continues to grow steadily after closing over 75 million USD of financing, one of the highest financing rounds of the year in Spain. The relentless rise of ecommerce and increasing demand for faster and more flexible payment methods have contributed to the fintech’s internationalisation plans, which now provides automated, friction-free consumer credit for e-commerce transactions in Italy, France and Spain. Pagantis allows point of sale consumer finance platform for ecommerce, allows consumers to pay for goods and services in monthly installments with a fully automated, paperless process and provides ecommerce merchants with a simple onboarding process to offer instant consumer credit in conjunction with purchases.
Pagantis is using TigerGraph to calculate a customer’s credit rating using all of their real-time activities as well as the historical context. A graph database is the only data model where each customer’s data entities are pre-connected offering a simplified way to analyse complex relationships. Performance is enhanced by TigerGraph’s Native Parallel Graph™ (NPG) design which focuses on both storage and computation, supporting real-time graph updates and offering built-in parallel computation. The result is a scalable, high-performance system that allows Pagantis to quickly deliver real-time insights into complex relationship-based workflows that are common in tasks such as credit scoring, fraud detection, recommendation engines and risk analysis.
“At Pagantis we are constantly looking for new ways to improve customer experience and we had identified minimal delays in our real-time risk detecting software that needed improvement in order to offer a friction-free experience to our customers,” said Martynas Sukys, Product
Owner, for Pagantis. “Thanks to our partnership with TigerGraph, we have improved our anti-fraud and risk process significantly, reducing user’s’ waiting times on our application. As such, our user experience has been optimised and we now offer a fast and seamless consumer finance solution.”
Pagantis offers financing in Spain, Italy and France, with instant online approval, carried out in real time through an innovative scoring algorithm. This algorithm analyses the risk of fraud and credit, relying on big data and machine learning techniques, to ensure the highest possible acceptance by controlling the risk of delinquency of each financing. Speed of onboarding a new customer is essential. Acting as an intermediary between an ecommerce site and a finance company, Pagantis recognised that it could make improvements over its existing relational database structure to deliver the near real-time approvals process expected by its clients or end-customers.
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“We examined a number of alternatives but only TigerGraph offered a client-focused approach, state-of-the-art technology and next generation database management solution that integrated seamlessly with our existing workflow,” adds Sukys.
The Filene Research Institute estimated the annual size of the POS financing market at $391 billion—approximately 3.5% of annual consumer spending—with healthcare, electronics and home goods as the leading categories.
“Delivering a great online customer experience is vital in the competitive world of finance and transaction processing delays can have a measurable impact on the bottom line,” said Martin Darling, EMEA General Manager for TigerGraph. “By switching to TigerGraph, Pagantis is able to significantly reduce the delays associated with critical processes such as fraud detection and risk scoring and create a foundation to deliver its service at scale.”
Last month, TigerGraph announced the general availability of TigerGraph Cloud, the first native graph database-as-a-service, as well as $32M in Series B funding. TigerGraph Cloud provides users with the ideal cloud-based service to model, search, and traverse relationships for analytic, transactional, and real-time workloads. Simple SQL-like querying and unmatched scalability, to find patterns, make predictions, perform real-time transactions, and gain new insights, is now accessible to everyone. With TigerGraph Cloud, users can scale their graph solution up to tens of terabytes and support more than 100,000 real-time deep link analytics queries per second on a single machine.