Aion Bank’s newly-launched BusinessMax aims to generate high-quality digital banking services for small and medium-sized businesses (SMBs), according to a press release.
The Belgian challenger bank says the program will be “fully digital” from start to end, and everything from account setup to loan applications and approvals can be handled just within the app.
SMBs will be able to use the app to apply for coronavirus-related financial aid, according to the press release. The release touts this program as the first one in Belgium to support pandemic-related financial needs entirely online. Businesses in Belgium could be eligible to receive up to €100,000, covered under the 1.25 percent state loan.
BusinessMax will also allow applications for installments and overdraft loans, and businesses will be able to use the program to simplify their finances and manage daily banking needs. BusinessMax offers artificial intelligence (AI)-powered services to generate invoices at high speeds and scan and pay company expenses, and SMBs will have access to worldwide transfers at inter-banking rates and tools to digitally manage company cards.
BusinessMax was introduced especially because of the heightened need due to the coronavirus pandemic, which sees banks and businesses strained and having to work around challenges previously never seen before, said Wojciech Sobieraj, CEO of Aion Bank, in the press release.
“Recovering business activities post Covid-19 and in times of economic downturn is not easy. We want to help Belgian business owners and managers in these challenging times,” Sobieraj said. “That’s why we are proud to introduce a new way of business banking, adapted for today’s times. With fully digital loan granting processes and innovative accounting tools, we are making banking easy for small to medium enterprises so that they can get on with rebuilding their business working from home.”
Aion Bank utilizes a subscription model, and because of that, it can eschew other usual fees for ATMs and withdrawals.
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