Dutch bank ING has launched a new digital tool that aims to provide a real-time credit assessment of customers and suppliers, with a particular focus on leasing companies, suppliers, business lessors, and credit insurers.

CheckAhead generates credit scores based on transaction and balance data within two minutes, with the goal of driving more efficient credit ratings and lower administrative burdens.

As part of the move, the bank aims to deliver a more reliable alternative to traditional credit assessment, a process that often takes a long time and relies on outdated annual data, said ING.

The new technology has initially been launched in The Netherlands, but pilots have been rolled out in several countries where the bank has business operations, including Romania, Belgium and Germany.

ING said it plans to introduce the solution to these countries in late 2025.

ING added that, according to data from the pre-launch pilot phase, using the digital tool helps companies close 20 per cent more transactions due to more efficient work and greater confidence in customer creditworthiness.

Laurens de Vos, director of business banking at ING in the Netherlands, emphasised how CheckAhead offers corporate customers the knowledge and skills to take advantage of more opportunities by providing the tools to make fast and reliable credit decisions.

“This digital product not only helps our customers with an efficient assessment of the financial health of their own customers, but also reduces our customers' risks,” he said.

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