Fyndoo provides more efficient business funding applications and quicker clarity for applicants

Rabobank, Credion and Topicus are taking steps to digitise business finance applications. From 19 May, Credion advisers will apply for financing from the Rabobank intermediary desk via Fyndoo Advise. This will make the application process more efficient and provide faster clarity to applicants through their credit advisor.

Fyndoo Advise, Topicus' advisory platform for business credit advice, is an advisory platform that allows business advisors, such as accountants and intermediaries, to offer advisory services to entrepreneurs. Among other things, the platform supports financial analyses based on annual figures, preparation of forecast scenarios, determining a company's creditworthiness and applying for financing, now also digitally at Rabobank's intermediary desk.

Digital progress

On behalf of Rabobank, Michiel Kolff, Director Intermediary Desk Businesses, calls this collaboration a logical step in its digitalisation strategy: ‘Rabobank is continuously working on making its way of working even more customer-friendly and efficient. The fact that financing requests can now be submitted to the bank completely digitally via Credion advisors is a great step forward.’

Credion advisers can submit their application digitally via Fyndoo Advise. They are taken through the application step-by-step. Here, depending on the product(s) being applied for, all data and documents that Rabobank needs to assess the application are requested in a targeted manner.

Carlo van der Weg, director Credion: "Topicus has been our partner for the processing and drawing up of customised financing applications via its Fyndoo Advise platform for many years. We are therefore delighted that the applications for Rabobank can now also be accessed digitally and efficiently from Credion via Fyndoo Advise.”

Within Fyndoo Advise, an entrepreneur's eligibility for one of the selected financing solutions is assessed based on, among other things, the amount to be financed, the financing goal, the term and the sector.

"By requesting all required information from the start, the Rabobank Intermediary Desk receives a complete file in one go. Thus, the financier does not have to go back to the customer for additional information or documents. Moreover, because this data is already tested, the entrepreneur quickly knows where he stands. The advisor can, if the application does not yet fit, effectively start advising with the help of the built-in prognosis module in order to work together on the financial feasibility of the entrepreneur," says Jamie Burink, Businessline Manager business finance at Topicus. 

Scenario analysis

For the adviser, using Fyndoo Advise offers more advantages. Besides the credit application module, which allows one credit application to be submitted directly to several lenders, the adviser has access to a robust scenario analysis tool. This allows him to compare different financing options and also examine, in a broad financial context, whether financing is sensible, and which financing solutions best fit the client's specific situation, given the financing objective, financial situation of the entrepreneur and, for example, the sector in which the entrepreneur operates.

Based on a few actions, you simulate what is most beneficial: leasing or borrowing. How does that affect liquidity, for instance? Based partly on customer expectations, is there sufficient cash flow available to meet the additional financing costs? What if the term is extended by one year? An important aspect in the context of duty of care. 

‘Based on a few actions, simulate what is most beneficial: leasing or borrowing.’

With Fyndoo Advise, the financing application can also be qualitatively substantiated, so lenders can confidently trust the advice given by the intermediary during the guidance of the financing application.

The products Rabobank offers through Fyndoo Advise are loans, business mortgages, current accounts and leases. During the pilot phase, these financing solutions can be applied for exclusively by financial advisers affiliated to Credion, the franchise organization.