PressFaster sme loans. AI at the center of Aidexa and Actico's partnership

The two companies team-up to automate Banca AideXa’s approval processes for faster SME financing with AI
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Banca AideXa, the Milan-based fintech bank, was established with the goal of providing financing to SMEs in a matter of days by leveraging innovative tools such as AI and Open Banking. To further support its ambitious growth plans, Banca AideXa now needed a more flexible decision engine solution - not only to manage their credit policies, scorecards, pricing and credit decisioning – but to also further enhance AideXa's proprietary algorithms. The solution needed to enable even faster and more reliable evaluation of loan applications.

During the evaluation of potential partners, Banca AideXa determined ACTICO provided the reliable and flexible solution they needed to gain even more flexibility and control of credit assessments through the combination of business rules and machine learning models that Banca AideXa has developed since its inception, thanks to the work of the internal team of Data Scientists.

By combining decision models with AideXa's proprietary models, human evaluation times now decrease even more, enabling transparent decisions and maximum verifiability for all rules and data models. On a single integrated platform, the credit assessment team can have a complete summary picture of a loan applicant's creditworthiness: from external SCI information, to instant, automated assessment results. In fact, a 10 percent increase in the automatic approval rate of applications is estimated.

Traditionally the steps preceding loan disbursements are divided into the stages of online application, receipt of the economic proposal and evaluation of the company's profile. Today, thanks to the partnership, the soundness of a business is evaluated in real-time, while the customer proceeds with the online application on Banca AideXa's website.

As a result, SMEs will now benefit from even faster loan application approval and disbursement times than the already competitive timelines of AideXa's instant lending products.

Thanks to this collaboration we are still reducing the time it takes to provide credit to Italian small and medium-sized businesses, something on which we have always been at the forefront and on which we aim to accelerate further. In ACTICO we have found a technology player capable of sharing with us an innovative vision of banking processes. Last but not least, the collaboration fits perfectly into our strategic initiatives to innovate and scale even faster in 2023.

Walter Rizzi, Chief Product and Customer of Banca AideXa

Banca AideXa is now one of the first entities in Italy, as well as the first fintech, to collaborate with the German player in the integration of AI technologies for the automation of decision-making processes.