ING, the Dutch financial institution that offers banking products in more than 40 countries, has announced the launch of a new innovative service in Italy too. It's about Orange Business Loan, the first entirely digital loan for small and medium-sized enterprises, created thanks to the collaboration with numerous internationally renowned Fintechs.
ING has developed a strategic partnership with Cabbage, an American company active in the field of advanced technologies and platforms for the provision of instant loans to SMEs.
The new solution provides for the possibility of offering loans of up to 100.000 euros. The service does not require the presentation of financial statements or surveys and guarantees a response on the credit assessment in just 10 minutes.
Thanks to various collaborations with Italian and foreign partners, ING has finalized an innovative credit process, which combines traditional risk assessment methods with an advanced scoring model, performing real-time analyzes on the basis of transactional data, thanks to algorithms that reconstruct the financial dynamics of the customer.
Marco Bragadin, CEO of ING Italia, commented: “I am particularly pleased to announce the launch of the Orange Business Loan, a highly innovative and unique service on the Italian scene that allows us to contribute to the development of a segment, that of SMEs, which is a backbone of the Italian economic fabric”.
"After the experience gained in Spain - continues Bragadin - the service officially starts in Italy as well and is an example of how banks and Fintechs can work together to innovate and offer customers, today also business customers, a differentiating service and an almost identical in several countries, in line with ING's global strategy".
