(21 November 2024 – Europe) ING has launched a new digital solution aimed at helping businesses evaluate the creditworthiness of their customers and suppliers with greater accuracy and efficiency.
The service, called CheckAhead, generates credit scores within two minutes by analysing transaction and balance data. This innovation enables faster credit assessments while significantly reducing administrative workloads.
Designed for industries such as leasing companies, suppliers, business lessors, and (credit) insurers, ING highlights that CheckAhead offers a more reliable alternative to traditional credit evaluation methods, which often rely on outdated annual financial reports and can be time-intensive.
During a pre-launch pilot, companies using CheckAhead reported a 20% increase in closed deals. This improvement was attributed to enhanced confidence in their customers’ creditworthiness, thanks to more up-to-date financial insights.
Laurens de Vos, Director of Business Banking at ING, commented: “This digital product not only helps our customers with an efficient assessment of the financial health of their own customers, but also reduces our customers’ risks.”
Currently available to business clients in The Netherlands, looking ahead, ING has begun piloting CheckAhead in other countries where it operates business banking services, including Romania, Belgium, and Germany, with plans for a full commercial roll-out by late 2025.