Simplu Credit launches a 100% online credit product that can be accessed in just a few minutes

After a first quarter with results up by 44% compared to the same period last year, Simplu Credit, a top 10 non-bank financial institution (NFI) in terms of assets, is starting the process of digitization of financial services and is launching 24/7 Online Credit for personal needs.

Thus, individual customers can obtain financing of up to 5,000 lei in just a few minutes by applying online on the Simplu Credit website, without having to go to a physical branch. Credit costs are fixed and the credit period is between 6 and 48 months.

For the implementation of the online personal loan, Simplu Credit collaborated with the French company Ariadnext, one of the leading European providers of digital identification services.The whole digital flow of the application is based on the use of innovative IT solutions for analysis and information security, such as automatic data recognition (OCR), biometric identification and automated analysis and decision making, including algorithms from Machine Learning and Artificial Intelligence.

„We are excited to join the digitization trend by integrating online lending solutions into our sales channels, complementing the growing Simplu Credit agency network. 24/7 Online Credit offers customers the opportunity to access a loan with almost instant approval when they urgently need a small amount of money. All loan details are transparently accessible before the contract is signed, and costs remain unchanged for the duration of the loan. In addition, customers who pay their instalments on time benefit from cost discounts that allow them to save substantial amounts of the total amount due. We have set a target of around 100 loan applications per day and a sales volume of 1.5 million lei through this channel by the end of this year”, says Mircea Lupu, General Manager Simplu Credit.

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The steps for getting an online credit are simplified compared to the traditional procedure and are very fast. All the customer needs is their ID and mobile phone when applying for creditDuring the application, the applicant fills in and electronically signs the documents proving income, the credit application and the agreement to process personal data with the Credit Bureau. The query of the financial situation at ANAF and of the credit history at the Credit Bureau is carried out automatically, and the confirmation of identity is automated and carried out using state-of-the-art technologies. If the loan application is approved, the contract is issued instantly and is also signed electronically, with SMS confirmation.

People who can apply for the online credit offered by Simplu Credit must meet a series of eligibility conditions, namely to be at least 18 years old, to have a net income of at least 1,000 lei from salary, to comply with the rule of a maximum debt ratio of 40% when the credit is granted or to have no current arrears.

The launch of online personal loans is a first step towards the adoption of digital solutions, and the company has initiated other digitization processes with the aim of facilitating access to financial services for the unbanked population and reducing time spent on operational processes.

In the first quarter of 2022, Simplu Credit recorded sales of loans to individuals totaling 4.93 million lei (equivalent to approximately 1 million euro), up 44% compared to the same period last year.