We are launching October Connect to make neolending the new normal for business clients and financial institutions. October Connect is an efficient and secure credit process for banks to provide a better credit experience for professionals.
Innovation, an efficient response to the challenges facing banks
In a historically difficult environment (low rates, high risks, limited margins, etc.), banks must find an effective way to transform their credit chain which is at the very heart of their relationship with professionals.
Nevertheless, this transformation requirement is a complex challenge to be met under the triple weight of technological legacy, growing demands in terms of customer experience and regulatory injunctions.
Once this challenge has been met, banks will be able to make the most of a 360-degrees relationship with businesses and transform this constraint into a unique asset to acquire and retain their professional customers.
Closing the technological gap, safely
At October, we have invested a lot in technology and data since the beginning. We have financed more than €500 million loans to SMEs across France, Spain, Italy, the Netherlands and Germany, offering one of the simplest and fastest lending experiences. Our tech allows us to do this safely, with controlled risk parameters, despite the potential dangers inherent in online lending.
Neolending is a superpower for financial institutions
Our mission is to empower businesses to thrive by simplifying and democratising their funding. We now operate our technology not only for our own financing platform but also for financial institutions across Europe so we can help more businesses together.
October Connect allows financial institutions to propose a radically improved credit experience with a safe, fast and simple credit process for SMEs. It is designed to streamline the experience both on the borrower side and on the bank side to optimize processing costs and increase returns by better leveraging data from prospects and customers.
Built by and for credit professionals
October being the first client of this tech, it is built for and by credit professionals with all their daily constraints in mind. October Connect delivers value at every stage of the credit process: acquisition, risk analysis, KYC and fraud detection, up to and including the granting and managing of loans. It coordinates the interaction between different teams, drastically improves document and task management, and speeds up decision making. All this while providing unprecedented levels of transparency to the customer and to the credit institution.
Having processed hundreds of thousands of loan requests and being a pure digital player, we know safety is at the very heart of digital lending. That’s why we’ve designed our platform with an embedded fraud detection fire-wall. We are a tech-powered lender and we know what it means to live with risk.
Connecting to deliver more
It is time we help transform the oldest banking activity, credit, into an efficient and safe process for banks and a great experience for SMEs.
We’ve already started deploying October Connect (you can find out more about the platform built for ENGIE in this article) and are looking forward many more partnerships.
“Today, we make our data & tech expertise available to all institutions that wish to lend to businesses in a simple and fast way.” – Olivier Goy, CEO of October
⇒ Meet October Connect