RIGA, Latvia (13 April 2022) – Belgian lending service CARD Advance has linked up with the world’s only free open banking platform, Nordigen, to perform creditworthiness checks on new potential clients.
CARD Advance is the leading merchant cash advance provider in Belgium. It aims to help SMEs acquire small business loans, through a quick and easy process. The repayment of the loans is fully automated through the borrower’s in store payment terminal.
The service approaches each loan request with personalised attention and care, helping to find the right solution for every customer without hidden costs.
“Our service is truly aimed at helping entrepreneurs by giving them a chance to take their business further and benefit from new opportunities. We want to give each client a suitable lending plan customised to the client’s circumstances and needs. Our open banking connection with Nordigen allows us to do just that, in a fast and effective way,” says Diederik Werdmölder, director of CARD Advance.
The integration with Nordigen’s account information service allows the platform to perform,with express prior approval of the client, quicker background checks on their clients before making decisions on loan requests. This is performed through a direct connection to the business’s bank account, which allows CARD Advance to thoroughly and accurately analyse creditworthiness.
“Many of our clients are SMEs and we understand the value a loan can bring for businesses in their early stages. CARD Advance makes the process of accessing additional funding easier and more personalised, and we are delighted to be able to further simplify the procedure for them and their clients through secure financial data sharing,” says Rolands Mesters, co-founder and CEO of Nordigen.
Nordigen is a freemium open banking platform that provides free access to open banking data and premium data insights. Nordigen’s free API connects to more than 2,100 banks in Europe and serves fintech companies and developers in 31 European countries, including the UK. Nordigen is a licensed Account Information Service Provider (AISP), regulated by the The Financial and Capital Market Commission of Latvia and authorised in 31 European countries.
About CARD Advance
CARD Advance is Belgium’s leading merchant cash advance provider. It aims to help SMEs with small business loans, starting at 2000 EUR through a quick and easy process. The repayment of the loans is fully automated through the borrower’s in store payment terminal.