ING expands instant lending to SMEs in France and Italy
24 Octobre 2017 - 08:00AM
ING announced today it has started to offer online
lending to small and medium enterprises (SMEs) in France and Italy.
The proposition fits ING's strategy to grow its lending business to
SMEs and creating a differentiating customer experience. The
offering has been developed in a unique collaboration with
suppliers and fintechs, including Kabbage, the fintech ING is
already offering instant lending with to SMEs in Spain since 2016.
ING invested in Kabbage late 2015.
The service will be offered as one identical
digital solution on the ING website in both France and Italy. While
ING manages the entire process, the bank works with multiple
partners combining specialist capabilities. This reflects the way
ING believes collaboration should look: select the specialists that
can help you develop the solution the customer is really waiting
for. Next to Kabbage, these fintechs are, among others, VI Company
for the digital on-boarding and InfoCert for the E-signature. ING
itself is, besides managing the whole process, taking care of the
initiation of the loan and holds the loan on its balance sheet.
Benoit Legrand, global head of Fintech commented:
"We're happy to expand the instant lending offering for SME
customers to more countries across Europe. This way we're able to
empower a new segment of customers in France and Italy. The service
offers great advantage for customers who want to concentrate on
running their businesses and don't want to spend too much time on
managing their finances. In a paperless and digital process,
clients can get approval for a loan up to EUR 100,000 within 10
minutes. It's a fully transparent and flexible product: for
example, the maximum limit can be taken in different loans. This
solution illustrates how ING is using the numerous opportunities
the digital revolution offers to help people to stay a step ahead
in life and in business."
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ING PROFILE
ING is a global financial institution with a strong European base,
offering banking services through its operating company ING Bank.
The purpose of ING Bank is empowering people to stay a step ahead
in life and in business. ING Bank's more than 51,000 employees
offer retail and wholesale banking services to customers in over 40
countries.
ING Group shares are listed on the exchanges of Amsterdam (INGA AS,
INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING
US, ING.N).
Sustainability forms an integral part of ING's strategy, which is
evidenced by the number one position among 395 banks ranked by
Sustainalytics. ING Group shares are being included in the
FTSE4Good index and in the Dow Jones Sustainability Index (Europe
and World) where ING is among the leaders in the Banks
industry group.
IMPORTANT LEGAL INFORMATION
Elements of this press release contain or may contain information
about ING Groep N.V. and/ or ING Bank N.V. within the meaning of
Article 7(1) to (4) of EU Regulation No 596/
2014.
Projects may be subject to regulatory approvals.
Certain of the statements contained herein are not historical
facts, including, without limitation, certain statements made of
future expectations and other forward-looking statements that are
based on management's current views and assumptions and involve
known and unknown risks and uncertainties that could cause actual
results, performance or events to differ materially from those
expressed or implied in such statements. Actual results,
performance or events may differ materially from those in such
statements due to a number of factors, including, without
limitation: (1) changes in general economic conditions, in
particular economic conditions in ING's core markets,
(2) changes in performance of financial markets, including
developing markets, (3) potential consequences of European
Union countries leaving the European Union or a break-up of the
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with, sources of liquidity such as interbank funding, as well as
conditions in the credit and capital markets generally, including
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(5) changes affecting interest rate levels, (6) changes
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Any forward looking statements made by or on behalf of ING speak
only as of the date they are made, and ING assumes no obligation to
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as a result of new information or for any other reason.
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Source: ING Group via Globenewswire
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