Automated decision-making

Automated decision-making means that your financing application is processed using an information system. The decision is made without review by a Finnvera specialist. Artificial intelligence is not used in automated decision-making.

The system applies predefined rules to assess the information related to the application. Automated decision-making can only be used if the decision can be made on the basis of the financing application alone. An automated guarantee decision is made without case-by-case consideration, which means that  the company must fulfil all predetermined conditions for the guarantee. If the company’s circumstances change, for example if a payment default entry is removed, it is possible to reapply for financing through automated processing. It is also possible to apply for financing through manual processing.

Automated decision-making may be used, for example, when:

• your bank or financier applies for a guarantee for the financing
• the information required for the application is clear and readily comparable
• the processing of the matter can be accelerated through automation

The aim is to make decision-making smoother and faster for entrepreneurs.

Your decision letter will indicate whether your application has been subject to automated decision-making.

Automated decision-making is based on information about the company, including:

• information about the company and its responsible persons
• financial information and repayment behaviour
• financing-related information provided in the application

In automated decision-making, Finnvera uses information obtained from public data sources and from services provided by Suomen Asiakastieto. Please ensure that your company information in public registers is up to date. All information is processed confidentially and in accordance with applicable legislation. 

As a result of automated processing:

• you receive a positive decision, or
• you receive a negative decision, or
• the processing of your application is discontinued if the application criteria are not met or the required information is not available

Automated decision-making is used only in some of our services. An implementation decision has been made for these services. The implementation decision sets out the grounds on which automated decision-making has been introduced and the legislation applied.