Tag Archives: Aasa

Aasa signs the Diversity Charter

Aasa, an international fintech company, has signed the Diversity Charter in its Polish, Estonian and Swedish affiliates. In this way, the company committed itself to promoting cultural, ethnic and social diversity in its work environment.

The Diversity Charter is an initiative promoted by the European Commission at the pan-European level. It constitutes a commitment of organizations to counteract discrimination and, at the same time, take action aimed at creating inclusive jobs open to diversity. Signing the Charter has also a broader dimension as its Signatories work for social cohesion and equality.

Aasa, a fintech company specializing in the provision of instalment loans for individual clients and small businesses, joined the group of such companies. Aasa has recently signed the Diversity Charter in Poland, Sweden and Estonia. This is another initiative of the company, implemented as part of corporate social responsibility (CSR) and sustainable development projects.

This way, Aasa committed itself to protecting employees against discrimination based on nationality, race, sex, health, religion, beliefs, political views, psychosexual orientation or marital status. To this end, the company will implement the principles of diversity management and the policy of equal treatment.

“Signing the Diversity Charter is an expression of our values. Our biggest advantage is the fact that we are an international and a very diversified team whose members support and respect each other on a daily basis. With this thought in mind, we can better understand the needs of a contemporary and increasingly diversified society,” says Ovais Siddiqui, President of the Management Board of Aasa Polska.

“We cordially congratulate Aasa on the implementation of provisions of the Diversity Charter wherever it is possible. We encourage all signatories of the Charter, many of which operate in many European markets, to take such broad measures. Unfortunately, this is not a common approach, which is a pity. The coherence of a company’s corporate policies is a good testimony. Above all, however, it highlights the importance of certain values for the organization such as the attitude of respect and openness towards other people. Due to close cooperation with the European Commission, we know that soon also Romania will have its Diversity Charter and I am sure that Aasa will be one of its first signatories,” says Marzena Strzelczak, Director of the Responsible Business Forum.

Aasa employs in its international branches people from Poland, Sweden, Estonia, Finland, Czech Republic, Kazakhstan, Romania, Ukraine and Great Britain. According to the results of the Top Employers survey, conducted by Aon Hewitt in July 2017, as many as 83% of the company’s employees say that diversity is its strongest advantage.

This is confirmed by their statements in the “Aasa Family Movie”, which shows their experience related to work at Aasa. They believe that the company is driven by values such as diversity, teamwork, trust and development opportunities. In their opinion, it is these values that create a friendly working atmosphere and contribute to the development of the organization.

The Polish branch of Aasa Polska also carries out other numerous activities in the field of corporate social responsibility (CSR). Since June 2017, it has run a nationwide social campaign Aasy Net, whose aim is to counteract digital exclusion of mature people with the support of younger generations. So far more than 30,000 people have benefited from free educational materials made available as part of the campaign. Last November, Aasa Polska joined the group of strategic partners of the Responsible Business Forum — a platform associating over 150 companies and organizations from various industries and regions of Poland, which supports companies in CSR activities and enables the exchange of their experiences in this field.

Source: Mintos.com

Aasa now offers loans from Sweden for investment on Mintos peer-to-peer lending marketplace

Mintos peer-to-peer lending marketplace introduce investment opportunities from Sweden.

The Scandinavian partner Aasa Group expands its presence on the Mintos marketplace by offering to invest in consumer loans issued in Sweden. Aasa already places loans issued in Poland on the Mintos marketplace since February 2017, and so far investors on Mintos have invested EUR 3 million in loans by Aasa.

Aasa Group was established in 2010 and is now among the top alternative lenders on the Polish and Finnish markets. At the end of the first half of 2017 Aasa had issued loans worth more than EUR 172 million in Poland and EUR 270 million in Finland. Aasa Group has over EUR 50 million in equity. This makes Aasa the biggest loan originator on the Mintos marketplace.

Aasa Group has advanced plans to expand in other European countries, the first of these being Sweden. Aasa started its operations in Sweden in May 2017. Aasa loans in Sweden are issued by Aasa Kredit Svenska AB. It offers consumer loans in a highly effective online channel. At the end of September 2017, Aasa Kredit Svenska AB had issued more than 2 000 loans worth over EUR 2 million.

The average Sweden-issued loan that Aasa will place on the Mintos marketplace will range from EUR 1 000 to EUR 2 000, with an average repayment period of 6 to 36 months. The loan originator will initially offer to invest in euro (EUR). Loans denominated in Swedish krona (SEK) will be added to the Mintos marketplace soon. The average net return to investors will range from 7 to 11%.

Aasa will offer a buyback guarantee for loans that are delinquent for more than 60 days. The obligations of Aasa Kredit Svenska AB will be guaranteed by Aasa Group. To retain its “skin in the game”, Aasa will keep at least 5% of each loan available on the Mintos marketplace on its balance sheet.

Aasa’s mission is to provide fast and convenient access to financial products and services based on transparency, promptness, simplicity and safety. Aasa always provides mid-size consumer loans priced similarly to banks, which differ greatly from single instalment payday loans.

The key to Aasa’s business model is the efficient use of the lending platform and unique credit scoring algorithms. When combined, they are able to serve a large number of customers, while accurately controlling credit risk. To evaluate the creditworthiness of clients, Aasa employs sophisticated in-house big data methodology. Their scoring uses both classical variables such as income, employment and age, as well as big data such as customer behaviour on the website, time of application and other indicators crucial for the final decision.

“We are so excited to expand Aasa operations together with the Mintos marketplace. We started our cooperation with Mintos by offering products on the Polish market and now we see a huge opportunity to reach our goals in other important countries also with Mintos marketplace investors. The consumer lending market is a fast-growing investment opportunity. Funding through Mintos contributes to the diversification of our financing structure, offering us the flexibility to grow our portfolio” emphasises Meliina Räty, Chief Strategy Officer responsible for Aasa Group’s expansion.

“We are truly excited that Aasa Group is extending its presence on the Mintos marketplace. Aasa gives investors the opportunity to significantly diversify their investment portfolio by investing in low-risk loans originated by an established loan originator in Europe,” says Martins Sulte, CEO and co-founder of Mintos.


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