Many companies are afraid that their data will be used against them. 

We try to explain why our digital service is as secure as other online banking service providers on the market.

Part of our system uses an interface that allows you to interact directly with the open banking provider. This part organizes your banking data and enables us to analyze it to allocate you a credit line. If you want to take out a loan, it uses an interface that allows you to interact directly with the open banking provider to introduce you to a credit provider.

What is Open Banking?

Open Banking is a new and secure technology that gives you online access to your bank accounts and allows you to retrieve transaction data and manage funds.

Puls works with licensed and BaFin-regulated open banking providers – Finleap Connect and FinApi. When you enter your banking details in the Puls account, you interact with the interfaces of these providers. We do not have access to your logins and passwords. We can neither see nor store them.Open Banking works with the same security standards as your bank. With Open Banking, you will never be asked to share your password or login details with anyone other than your bank.

Once your bank details have been uploaded to your Puls account, we can analyze them. Data from different bank accounts are accessed from one place, collected in one place, and presented to you in that place in a helpful way.

You get a complete and up-to-date overall picture of all your finances. The result is actionable insights and informed decisions that add value to your business.‍

What do we have to do with your bank data?

Using information about transactions that take place between the companies in your group and with third parties, Puls can understand how your company (or several of them) is doing. That allows Puls to calculate your credit limit if you qualify. Ultimately this can be made available to you within 48 hours.

The available credit limit does not create an obligation to take out the credit. Borrowing is voluntary.

If you are not qualified for the credit, in our opinion, we may not be able to provide you with the credit limit. Most likely we will tell you the reason.You can cancel your account at any time. You can also delete your bank accounts within Puls if you only want to keep your Puls account.‍

What happens to your data afterward?

We never store your data unless required by law. If you delete your Puls account, your bank data will also be deleted from our system. The rules for handling bank data by Open Banking providers may differ. Please consult the relevant websites and terms of use.
If you become a party to a credit agreement, neither the lender nor we can destroy or delete the agreement. The credit agreement and all information contained therein must be treated in the same way as all other agreements and relevant information. Please note that under the provisions of the Money Laundering Act and other German laws, the lender must make your identification, the identification of the beneficial owners of your businesses, and this information must not be destroyed and must be kept securely.‍

Are also wondering where the money comes from to finance our loans?

Puls is neither a bank nor a financial institution. We act as a credit broker (§ 34C GeWo) and do not offer bank products. The loans are provided by Montold SME Lending Fund GmbH & Co. KG , an alternative investment fund registered and regulated by BaFin (BaFin ID 70162347). The Fund is managed by Montold Asset Management GmbH (BaFin ID 10156973), a management company registered and regulated by BaFin.
The source of the money for the Fund is its limited partner (Komanditist) Puls Technologies GmbH. The identities of all investors of Puls Technologies GmbH are publicly available at the Handelsregister. They are all independent private investors that have successfully completed all due diligence and know-your-client checks in respect of the money origin and identification of the legal entities and ultimate beneficial owners.