The new B2B business intelligence service enables Danske Bank business customers to check their customers’ creditworthiness and access the risks of non-payment
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After three years of preparation, Danske Bank has rolled out a B2B business intelligence service developed in partnership with the fintech Axeptia.
Customers can avail of the new intelligence tool either through an app or via Danske Bank’s District financial platform for business customers. The program collects and consolidates data from the customer’s ERP system, credit information provider and debt collection provider and visualises it to provide an easy-to-use overview.
The tool will allow the bank’s business customers analyze their clients’ financial health amidst increasing uncertainty and escalating worries over credit risk. It also makes it easier to track who owes the company money and how good they are at paying their invoices. Therefore, the service significantly increases the clarity and predictability of corporate credit decisions.
Responding to customer demand, the Danish bank is making Axeptia Credit Intelligence technology accessible to business customers in Denmark, Sweden and Finland. Before the expanded launch, the service went through a pilot trial period in Norway.
Developing the Credit Intelligence tool has taken Danske Bank and Axeptia about three years. However, the lengthy collaboration resulted in the foundation laid for more projects where the bank’s “customers’ needs are met through solutions developed with external partners.”
Axeptia is a Norwegian fintech company that created a credit intelligence platform built by experts from the credit and debt collection industry. The platform helps businesses reduce customer risk and improve liquidity. Its insight and alerts enable business managers to act proactively and maintain control of their customer portfolio.
In January this year, Danske Bank released Climate Action Plan that aims to finance the search for an alternative to fossil fuels, as well as develop options for reducing the costs of air travel, shipping, and energy.
