Fintech
illimity Creates b-ilty
illimity today presents b-ilty, the first digital business store of financial services and credit for small- and medium-sized businesses (“SMEs”) – those having a turnover of indicatively 10 to 2 million euro – with high growth potential.
A bank created with the aim of simplifying a businessman’s life, thanks to the latest generation platform that combines specialist expertise and cutting-edge technology and provides its customers with the products and services of a complete bank, with the immediacy and ease that only an evolved user experience can ensure.
b-ilty is a digital platform 100% focused on SMEs, created with entrepreneurs for entrepreneurs, aiming to simplify the management of daily activities. It gathers all banking operations together in a single ecosystem, integrating tools to support customer growth with solutions that are adapted to the needs of the individual business and the individual sectors of the economy.
It is precisely for this reason that it has been designed on the basis of models typical of the most widespread digital solutions, to bring means of relating and interacting normally used on non-financial platforms to the world of credit and financial services for the first time. The b-ilty business store, which envisages an “all-inclusive” subscription, will be progressively enriched with additional features, products and services, that will be automatically integrated and updated in the platform, available to subscribers.
A BANKING PLATFORM DEDICATED TO SMEs
b-ilty is a banking platform of financial services and credit that has been constructed on the basis of the suggestions received from hundreds of entrepreneurs. It includes all the most widely used banking transactions, credit and debit cards, short-term credit, factoring to fund working capital, medium-term credit to fund investments, insurance cover to protect the entrepreneur and the business and many other products and services provided directly by the illimity Group or by qualified partners. The range of products and services will be constantly updated and gradually extended to take into account the specific needs of the various sectors of the economy.
FAST LENDING DECISIONS
b-ilty provides short and medium to long-term credit. b-ilty is aware that entrepreneurs want an immediate and clear response, whatever it may be. b-ilty is aware that every sector is different from the others. Thanks to a strongly data-driven approach and the business expertise of illimity’s Growth Credit division, it proposes a credit offer constructed by assessing the characteristics of the various businesses and the specific sectors in which they operate. Thanks to evolved LendTech systems and experts in the sector to be increasingly added, b-ilty is able to rapidly analyse dozens of indicators that will gradually be adapted to the features of each individual economic sector and shared with customers.
FULLY DIGITAL BUT ALSO PERSONAL
b-ilty is created fully digital, and easy to use to enable the entrepreneur, the CFO and the accountant to manage the business’s finances from their own office, without paper or the need to go to a branch without depending on other people’s availability. At the same time, it is also made up of people: every b-ilty customer will have a clear Relationship Manager with name and surname, as well as a professional call centre – Smart Care – available 7 days a week.
ALL ACCOUNTS IN ONE PLACE AND A WEALTH OF INFORMATION
Thanks to PSD2 functionalities, b-ilty also allows businesses to make a better use of the other bank accounts: the balances and movements of all the current accounts a company holds with other intermediaries can also be viewed on the b-ilty platform and the company can carry out transactions on all its accounts from this platform.
b-ilty knows how important it is to have detailed and comprehensible information available for managing a company and for this reason it puts the information it has available on the financial performance of each business and the sector to which it belongs at its customer’s disposal.
It is then at the discretion of the Head of the company to decide which information should be shared with which internal workers and with which external professionals. The platform undoubtedly simplifies work within the company itself and relations with its own accountant or other external professionals. It is an open platform that adapts to the operating needs of every business.
ALL-INCLUSIVE TRY & BUY SUBSCRIPTION
b-ilty not only allows customers to tailor the use of their bank, but also removes any doubt about the transparency of the applicable conditions.
In this respect the b-ilty platform is available as an “all-inclusive” subscription, meaning without operating limits, at a monthly cost of 40 euro.
The first three months are free of charge, after which the monthly subscription can be interrupted at any time.
Today starts the Beta Phase of b-ilty, in which access to services will be restricted to a limited number of SMEs, that will be gradually increased to ensure that our customers always receive the best possible service.
Corrado Passera, CEO and Founder of illimity, commented:
“From its very beginnings, illimity has been very focused on providing credit to SMEs. In three years, we have created a new paradigm Bank that ended 2021 with assets of almost 5 billion euro, an operating income of 111 million euro, a ROE of 10% and a capital base and credit quality at the very top of the sector. In these three years we have inevitably concentrated on medium-sized businesses, but in these three years we have also invested in order to take our technological platforms, our valuation and credit structuring ability and our knowledge of the sector to all SMEs. b-ilty is precisely that: it brings illimity to a market consisting of at least a million SMEs. We see an enormous potential for growth and improved services in this large world, something fundamental for our country.”
Carlo Panella, Head of Direct Banking in illimity, stated:
“b-ilty represents something different in the banking offer dedicated to small and medium-sized businesses. It combines the best of new technologies with a highly tailored proposal based on modern paradigms of use, with relations and support ensured by a team that will be the customer’s point of reference. Created by listening to what entrepreneurs in the various sectors had to say, b-ilty’s aim is to respond, for the first time, to the growing need for an offer exclusively dedicated to them. b-ilty’s digital business store is moreover an example of real open banking based on a model that does not only consist of illimity’s products but also those of selected partners, with the aim of constantly including the best available offers. In this respect, in order to create b-ilty we have gone beyond the financial world, taking inspiration from everyday digital platforms that are easy-to-use, transparent in their conditions and always updated in the offer. Our promise is to be complete in an offer that is easy-to-use and fast in the answers, always ensuring the human touch, thanks to a team of enthusiastic professionals.”