Defero: ”It must be free to access your own data - it's as simple as that”

Janni Møller Thomsen, Dec 17, 2021

Defero is offering Norwegians and Swedes to gain insights in their own credit rating to help them negotiate better interest rates and obtain the healthiest debt.

CEO Eigil Arff Tarjem has worked several years with credit management, and he is founder of Defero. A platform, that provides Norwegians and Swedes with the same set of data, that their bank gets, when they evaluate the customers worthiness of credit.

CEO Eigil Arff Tarjem, Defero

“When you apply for a loan, the bank will gather data on your creditworthiness and assess, whether they are willing to give you a loan and at what interest - or not. The higher risk, the higher interest,” Eigil Arff Tarjem explains and adds:

“A lot of people doesn’t even know this report exists. They have no relation to it, and therefore of course they cannot use it to negotiate the interest, that they are justified to.”

Too high or too low

Especially among the older generation the interest is too high compared to the risk.

“Our parents’ generation has been used to a very high interest, and for them 4 % might feel low, but maybe their credit rating score says 1 %, and they should then be able to get that,” Eigil Arff Tarjem explains and continues:

“Now they can go to their bank or even seek out other banks to get a fair treatment, because the banks are not going to call and ask, if they want a lower interest,” he shakes his head and adds:

“They are a business, that needs to create profit. Not friends.”

Access to your data

Defero saw the light of day in May 2019 in Norway and was later introduced in Sweden. In both countries it is free for people to get their own data.

“To me it is extremely provocative, that a person must pay, to get access to their own data. It’s their data,” states Eigil Arff Tarjem and continues:

“In Sweden one of our competitors almost has a monopoly on the data, but still, they charge for it. At Defero we ideologically choose to be different from that. It must be free to get access to this very important data – and next to educate the population to understand and use it at their advance.”

Instead of demanding the private person to pay for their own data, Defero has advertisement on their website and gets profit from the banks, that they display on Defero as possible solutions.

“We only want to work with Banks, that also provides good advice to their customers. It is for instance not favorable to restrict people to borrow 50 % of your equity in your house – your most valuable asset. We want people to understand their financial situation better.”

Advice and educate

Besides a mission to expand Defero to more countries, Eigil Arff Tarjem shares, that they strive for an improvement of the platform.

“We are data driven and we can calculate what interest, our members should be able to get, but we want to be able to give our members better advice as well,” he says and sums up:

“The overall knowledge on how to manage private finance is concerningly low, and we want to contribute to an increased focus on that.”

To use Defero you need to access the platform with Norwegian BankID or Swedish BankID.

“We are happy to work with Criipto, whom we feel has the same data values, as we do, and who also is a minor market challenger and the unique spirit of entrepreneurship. And have competitive prices and great support too.”

Meet Defero