COMPEON rolls out the fully digital corporate loan

“Digitaler Mittelstandskredit – DMK” (digital SME loan) is a corporate loan involving a fully digital end-to-end process. It is managed without the need for any manual steps – right up to contract signing. SMEs can access finance of up to 750,000 euros within a maximum of 48 hours.

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Compeon

Düsseldorf (Germany), August 9, 2018 – In addition to the conditions, speed is important when companies are looking to take out a loan. A quick offer and quick approval can make or break a company’s ability to accept an order or embark on an expansion project.

Dr. Nico Peters, managing director Compeon

“Our customers are always telling us how important it is to be able to arrange financing quickly. This is the starting point of the DMK in conjunction with solarisBank, which we are now pleased to offer finance customers alongside the products from our other partners. With this product, companies can have a loan of 100,000 euros agreed within just 24 hours, and a maximum of 750,000 euros within 48 hours,” says Dr. Nico Peters, Managing Director of COMPEON GmbH.

All steps of the process are performed automatically Once the financing parameters have been input, a fully digital process is initiated in which all parties communicate via interfaces (APIs). Advance data about the customer is obtained from the company register, credit agencies and the e-balance sheet and fed into the bid. The deep technical integration between the systems of solarisBank and COMPEON enables end-to-end integration from customer verification (KYC) and the digital signature right up to the payout of the loan. Conventional credit application processes still require companies to perform many manual steps – which the DMK renders obsolete. “With the DMK, we want to enable SMEs to access loans quickly, simply, and reliably. However, this is only possible with a fully digital process,” says Alex Bierhaus, Chief Technology Officer at COMPEON.

Not only is the technological component of the product concept pioneering, but the parameters of the DMK have been precisely tailored to the core needs of SMEs: “By adopting this new product in collaboration with solarisBank, we can offer our customers a loan that can be adapted to the company’s financing needs extremely quickly, comfortably and flexibly. Financing with a term between six and 60 months is possible for loans of 10,000 euros and above. The nominal interest rate on loans starts at 2.7 percent with no need for collateral,” says Dr. Peters. The DMK is suitable for anyone who needs uncomplicated access to a conventional loan, and it offers the fastest speed of payout on the market. For anyone needing more complex financing, COMPEON also offers product- and provider-independent expert advice on all financing products.