Hamburg, September 6, 2021

A new solution from information service provider CRIFBÜRGEL will digitalize the loan application process for B2B customers.

FINSATION allows the applicant company’s financial data to be provided digitally. The prerequisite is that the customer and company tax advisor work with DATEV solutions. With the help of this detailed database – created through collaboration between tax advisors and companies – this new solution shortens and simplifies the application process, while at the same time complying with all regulations and data protection requirements.

The company data is only released for specific use, as instructed. The digital process is now being rolled out in Germany in a pilot phase.

With FINSATION, the entire application process takes place digitally and in just seven simple steps. These steps can be further optimized after the end of the pilot phase:

  1. The SME submits a loan application in person or via the Internet.
  2. The details are captured and the loan application is forwarded to the bank.
  3. The bank submits a request to CRIFBÜRGEL to collect the SME financial data (via DATEV).
  4. CRIFBÜRGEL initiates the authorization request for this data (one-time or recurrent).
  5. The authorized person at the SME receives a PUSH message from DATEV on his or her smartphone and authorizes the request, automatically including any tax advice: Authorization granted.
  6. CRIFBÜRGEL sends the data (if necessary edited) to the bank for further processing.
  7. The bank uses the data to check the creditworthiness and loan eligibility and makes its decision. The borrower receives feedback on the loan decision.

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