ING Unveils Innovative Digital Tool to Revolutionize Credit Assessment in The Netherlands

Amsterdam, Netherlands - ING, one of the leading banks in Europe, has launched a groundbreaking digital tool called CheckAhead that enables businesses in The Netherlands to assess the creditworthiness of their customers and suppliers with unprecedented speed and accuracy.

According to the bank, the innovative service generates credit scores based on real-time transaction and balance data, rendering the traditional credit assessment process obsolete. By doing so, businesses can now make informed decisions on lending and partnership opportunities, thereby reducing administrative burdens and increasing operational efficiency.

Targeting leasing companies, suppliers, business lessors, and credit insurers, ING's CheckAhead is specifically designed to provide a more reliable alternative to conventional credit assessment methods, which often rely on outdated annual financial reports. The pre-launch pilot reveals that the use of up-to-date financial insights led to a significant increase in deal closures, with businesses closing 20% more transactions thanks to enhanced customer confidence.

"This digital product not only empowers our customers by providing an efficient and reliable credit assessment process but also reduces their risks," said Laurens de Vos, director of business banking at ING. "We have successfully piloted CheckAhead in Romania, Belgium, and Germany, with plans to roll out the system commercially by late 2025."

With its cutting-edge technology and commitment to innovation, ING is poised to revolutionize the credit assessment landscape in The Netherlands and beyond, providing businesses with a competitive edge in their quest for sustainable growth.