Belgian lending service CARD Advance has partnered with the world’s only free open banking platform, Nordigen, to perform credit checks on potential new customers.
CARD Advance is the leading merchant cash advance provider in Belgium. It aims to help SMEs obtain small business loans, through a simple and quick process. Loan repayment is fully automated through the borrower’s in-store payment terminal.
The service approaches each loan application with personalized attention and care, helping to find the right solution for each client with no hidden costs.
“Our service really aims to help entrepreneurs by giving them the chance to advance their business and benefit from new opportunities. We want to offer each client a loan plan tailored to their situation and needs. Our open banking connection with Nordigen allows us to do just that, quickly and efficiently,” says Diederik Werdmölder, Director of CARD Advance.
Integration with Nordigen’s Account Information Service allows the platform to perform, with express customer pre-approval, faster background checks on their customers before making decisions on loan applications . This is done via a direct connection to the company’s bank account, which allows CARD Advance to analyze creditworthiness thoroughly and accurately.
“Many of our customers are SMEs and we understand the value a loan can bring to businesses in their early stages. CARD Advance makes the process of accessing additional finance easier and more personalized, and we are delighted to be able to simplify further the process for them and their customers through secure sharing of financial data,” says Rolands Mesters, co-founder and CEO of Nordigen.