Building the first internal neolending platform, i-DEAL

ENGIE, a French listed multinational utility company, is partnering with October to create the first engagement platform through financial participation of employees to support internal projects of business developers.

The financial platform, called i-DEAL, has been launched within a handful group of ENGIE employees in September 2019. The access to the i-DEAL platform will be extended to a larger number of employees in January 2021.

What were the requirements of ENGIE?

The original idea of the ENGIE Finance and ENGIE Transformation Office teams is to allow employees of the group to directly support internal ENGIE projects. How? By becoming lenders and taking active part of the success of the project! Lenders receive monthly capital repayments and monthly interests based on the performance of these projects.

The 2 teams wanted to structure interests alignments by creating employees communities closely engaged with internal business developers.

Building i-DEAL, the first internal neolending solution

October has the toolkit to develop the lending platform that matches ENGIE’s vision.

  • Our neolending technology offers a fast and simple credit experience to ENGIE project leaders and the ENGIE Finance team,
  • The lending experience is totally streamlined for the employees,
  • The platform is totally plug and play: no tech integration on ENGIE side while respecting all the security firewalls.

A seamless lending experience!

ENGIE benefits from October’s 6 years of tech, credit and digital-lending experience. October offers a simple, safe yet scalable end-to-end credit processing tool.

  • Simplifying the workflow, improving document management and increasing decision making speed.
  • Automating document reading and processing.

First promising results

During the pilot, 2 projects have been financed and hundreds of employees signed up to the platform. i-DEAL is available in French, English and Italian.

i-DEAL is the first business case of October Connect