Banca AideXa’s goal is to make the world of online financing efficient and cost effective for businesses, starting from the assumption that those who are running business don’t have time to lose: they can’t spend hours sitting in a bank just to ask for a loan or wait weeks before the money is deposited in their account.
Customer experience is the key
More and more customers are opting to choose a banking experience instead of the bank itself, having understood how technology can transform the way they manage their finances.
For this reason, for Banca AideXa the customer experience is essential for building loyalty, and thus the process of applying for financing has been designed to simplify the customer experience. Specifically:
Any steps involving paper have been eliminated. So no paper document to be submitted and no handwritten signatures
Digitally retrieved data are used by accessing third-party databases. So now business owners can save the time needed to complete forms manually.
Banca AideXa's infrastructure exploits digital solutions for the collection of data that were previously inaccessible (e.g. transactions via PSD2).So now processes can be faster and more accurate
Thus, the process of applying for a loan has been designed to be as simple as possible and entirely online, manageable autonomously and independently by an entrepreneur able to access and use digital services.
However, since human contact is important for building trust, Banca AideXa makes available Business Bankers who can meet with the customer at any time and by any means (via email, chat, over the phone, on WhatsApp or Messenger) to help with the loan application.
X Instant: Up to €100,000 in less than 48 hours
Launched in February 2021, this is an instant short-term loan intended to cover any financial need. It’s available to SMBs for up to a maximum of €100,000.
The duration: 12 months with constant monthly instalments at a fixed interest rate for the entire duration of the loan. No personal guarantee or collateral is required to receive the loan.
The revolution: the speed and simplicity of X Instant perfectly embodies Banca AideXa’s DNA. Companies can access credit by sharing bank statements of the last 12 months through online banking, so in just a few minutes entrepreneurs can find out how much they can get and under what conditions.
The approval: once approved, loans are deposited in bank accounts within 48 hours.
X Garantito: Up to €500,000 guaranteed by the State in a few days
This solution disburses up to €500,000 with repayment in 24 constant instalments at a fixed interest rate. No additional guarantee is required, because the SME Guarantee Fund backed by the Italian Government covers up to 80% of the amount.
The loan is intended for joint-stock companies that have been in operation for at least two years, with a turnover of more than €100,000 and which have not already exceeded the maximum amount guaranteed by the SME Guarantee Fund (€5 million).
All it takes is a few simple steps:
Enter the VAT number,
Choose the amount,
Share the bank statements,
Evaluate the proposal and confirm the identity of the legal representative and beneficial owners.
Finally, sign the contract and the application to the SME Guarantee Fund with digital signature. Bank AideXa submits the application to the Fund.
In just 20 minutes – without any paper documents or forms to fill in – the entrepreneur learns about the loan’s feasibility, amount and interest rate.
The amount is disbursed in a few days, the time necessary for the Guarantee Fund to approve the application.
X Risparmio: a deposit account to support Italian SMEs
Launched in October 2021, this solution offers some of the best interest rates on the market and different maturities (3, 6, 12, 18 and 24 months). It's designed for consumers resident in Italy who can invest up to a maximum of €100,000.
The customer pays nothing, as there are no opening or management fees. The account can be opened online in less than ten minutes and requires an ID and a national health service card.
X Risparmio is a low-risk product: Banca AideXa is a member of the Interbank Deposit Guarantee Fund (FITD), which insures each depositor up to €100,000.
Deposit accounts were launched as an alternative solution for raising the capital needed to support the volumes of loans disbursed. The money is thus reinvested in the real economy in order to continue to concretely support the relaunch of SMEs.
As of January 2022, Banca AideXa collected 60 millions euro.