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Innovation 2019

KBC offers certainty on home loans in just ten minutes.

Since the end of November, customers[1] of KBC, CBC and KBC Brussels have been the first and only ones in Belgium able to get a firm answer on their loan application within ten minutes. This ensures that their dream home or ideal building plot won't be snaffled by someone else.

KBC, CBC and KBC Brussels have optimised, speeded up and fully personalised their lending process in a way that meets this clear customer demand for swifter certainty when borrowing to purchase a property.

In just ten minutes, customers can proceed in a user-friendly way from a no-obligation simulation in KBC/CBC Mobile and Touch (computer/tablet) to a formal online loan application. They’re offered a fully personalised, competitive interest rate and immediate certainty as to whether their application can be approved. This means they can quickly say yes to a vendor or estate agent and can keep a step ahead of other would-be buyers.

During the pilot period over the past two months, some 400 customers have already agreed a home loan in this way: that’s on average seven successful applications every day. Around 1 500 customers checked whether a loan was feasible for them.

In just ten minutes, KBC offers certainty about a home loan, including a personalised and competitive interest rate.

‘More and more families are looking for a high-quality home. Prices have been rising for years, while in an environment of persistently low-interest rates, real estate is equally desirable as an investment. It means that anyone who has found the home or building plot of their dreams generally has to contend with multiple would-be buyers and is under pressure to make a quick decision.  So it’s vital for would-be buyers to get a swift answer on a potential home loan. Our new, unique, user-friendly, fast and personal solution meets that need perfectly’, explains Veerle Timmermans, KBC Bank’s General Manager of Retail Lending & Deposits.

 

[1] For technical reasons, this is only possible at the moment for retail customers in paid employment. The self-employed and prospective customers can run a loan simulation, but the decision on the loan itself will continue to be taken for now via the customary process.

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KBC Corporate Banking signs cooperation agreement with two Belgian fintechs


KBC Corporate Banking is to collaborate with Cashforce and BrightAnalytics to provide Belgian businesses with enhanced support for their working capital management, cash flow forecasting and management reporting. The tie-up could also develop over time into a more structural partnership.


Cashforce developed a state-of-the-art application that uses a firm’s internal data to map out its working capital and future cash flows, provide insights for optimisation and highlight future funding requirements through simulations. The software has the capability to consolidate complex international group structures and to visualise them in easy to understand analyses and dashboards that enable the company’s CFO to manage its worldwide working capital and cash, and deliver easy reporting.


BrightAnalytics provides management reporting assistance for SMEs and mid-caps. The firm helps create user-friendly and interactive overviews for each key component of financial reporting within a business. The software is able to generate real-time profit and loss accounts, balance sheets and cashflow statements with powerful visualisation tools for complex organisations and across entities.


Wim Eraly, Senior General Manager KBC Corporate Banking: ‘We’ve recognised for some time now that we must collaborate with more advanced technology with our clients. The days are gone when a relationship manager could sit down with the client and make a rough calculation of the funding requirement for the year ahead on a piece of paper or using a spreadsheet. We have to support our clients even more effectively in this area by helping them achieve accurate real-time insights. This also applies to operating results. Accurate figures visualized in clear reports ensure that you always know perfectly how your organization is performing. We also believe in Open Banking at KBC, so rather than building solutions like this ourselves, we look for outside partners who use technology to create the right solutions for our clients. Following our Soluz.io joint venture, Cashforce and BrightAnalytics are the next fintechs we’ve partnered with as part of that approach.’  

 

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