Bankinter manages lending to company employees
Bankinter Consumer Finance launches 'Employee Advanced Lending', an innovative solution which relieves companies of the work of managing, administering and financing their employees.
With this unique service, companies can offer loans and advanced payment to their staff without using their own liquid asset and administrative resources.
Bankinter Consumer Finance, the subsidiary of the specialised consumer business bank, has launched a flexible solution for businesses which allows them to offer their employees different lending options and payment advances without the need to dedicate resources or to perform the management, authorisation and administration tasks associated with this type of activity.
This new service from Bankinter Consumer Finance, unique in Spain, relieves companies from having to authorise and manage the granting of loans or payment advances to employees and it allows them to save their own liquid assets because all these tasks are outsourced to the financial institution, who keeps the company regularly informed regarding the evolution of the transactions.
'Employee Advanced Lending' is a service that is personalised depending on the needs of companies and its employees, as well as the purpose of the loan (studies, childbirth, vehicle purchase, home improvement, salary advance, etc.), the trade name which each company wishes to use for its product and the economic conditions which vary for each company, although they are always among the most competitive on the market.
Agility and simplicity.
In terms of amounts, the loans can be from 3,000 up to 90,000 euros, with amortisation terms of between six and 96 months. The agility and simplicity of the application (calling a telephone number and signing a contract) is notable, as well as the speed at which the loans can be granted (the money can be available in the customer's account in just 24 hours).
The lending does not require the contribution of salaries or other documentation by the employee, nor a corresponding risk assessment. Nor is it an essential requirement to open an account with Bankinter or to contract other additional products. In this respect, the employee may receive the credit amount in the account held with his/her usual bank.
Additionally, this solution allows companies to enjoy a customer loyalty tool for their staff without undertaking large development activities (because even the marketing material is provided by the institution) and to outsource activities which otherwise would take up many resources and generate a certain degree of risk for their balance sheets.
The business client profile includes all mid- to large-sized companies of 50 employees or more from any economic sector, because the solution can adapt perfectly to needs specific to human resources and financial management in every company.
Bankinter Consumer Finance is the Bankinter Group company specialising in the consumer business. The financial institution currently has a workforce of 160 people, over 800,000 clients and an investment portfolio of 859 million euros at the close of the first quarter (70% more than the same period in 2015) and it is the consumer company experiencing the greatest growth.