Together with Rabobank and Credion, we have taken new steps in digitizing business financing applications. As of 19 May, Credion advisors will apply for financing from the Rabobank intermediary desk via Fyndoo Advise. This makes the application process more efficient and provides an applicant with clarity more quickly via his credit adviser.
Fyndoo Advise is used by business advisors, such as accountants and intermediaries, who offer their advisory services to entrepreneurs. The platform supports, among other things, financial analyzes based on annual figures, preparing forecasting scenarios, determining the creditworthiness of a company and applying for financing. The latter is now also available digitally at Rabobank's intermediary desk.
Michiel Kolff, Director of Intermediary Desk Companies at Rabobank, calls this collaboration a logical step in its digitization strategy. "Rabobank is continuously working to make its working method even more customer-friendly and efficient. The fact that financing applications can now be submitted to the bank via the Credion advisers in a fully digital way is a great step forward."
Credion advisors can submit their application digitally via Fyndoo Advise. They are included step-by-step in the application. Depending on the product or products being requested, all data and documents that Rabobank needs to assess the application are specifically requested.
Carlo van der Weg, director of Credion: “With its platform Fyndoo Advise, Topicus has been our partner for the processing and drafting of customized financing applications for years. We are therefore pleased that applications for Rabobank can now also be accessed digitally and efficiently from Credion via fyndoo.”
Within Fyndoo Advise, it is tested whether an entrepreneur qualifies for one of the selected financing solutions on the basis of, among other things, the amount to be financed, the financing objective, the term and the sector.
“By requesting all the necessary information at the front door, the Rabobank Intermediary Desk receives a complete file in one go. This means that the financier does not have to go back to the customer for additional information or documents. Moreover, because this data is already being tested, the entrepreneur quickly knows where it stands. If the application does not yet fit, the advisor can effectively get started with advice with the help of the built-in forecasting module to work together on the financeability of the entrepreneur," says Jamie Burink, Businessline Manager business finance at Topicus.
For the advisor, the use of Fyndoo Advise offers more advantages. In addition to the credit application module, with which one credit application can be submitted directly to multiple lenders, the adviser has a robust scenario analysis tool at his disposal. This allows him to compare different (financing) options with each other and also view in a broad financial context whether financing is sensible, and which financing solutions best suit the specific situation of the customer, given the financing goal, financial situation of the entrepreneur and, for example, the sector. in which the entrepreneur is active.
Based on a few actions, the advisor simulates which is most favorable: leasing or borrowing. What does that do to liquidity, for example? Is there sufficient cash flow available, partly on the basis of customer expectations, to meet the additional financing costs? What if the term is extended by one year? An important aspect in the context of the duty of care.
With Fyndoo Advise, the financing application can also be qualitatively substantiated, so that lenders can confidently rely on the advice given by the intermediary during the supervision of the financing application.
The products that Rabobank offers through Fyndoo Advise are a loan, commercial mortgage, current account and lease. In the pilot phase, these financing solutions can be applied for exclusively by financial advisers affiliated with the franchise organization Credion.