ConTe.it Prestiti, a new venture in the credit sector of Admiral Group Italy, has partnered with Tink, Europe’s leading open banking platform, to offer customers in ConTe.it Prestiti’s network an improved and instant lending application process.

ConTe.it Prestiti, a lending fintech platform, has embedded Tink’s Income Check product into its current offering, in order to make more accurate affordability assessments. 

Powered by open banking, Tink’s Income Check product allows banks and lenders to instantly verify a person’s income using secure and real-time data directly from their bank account. Using face recognition or with a single click, customers can consent to connecting to their bank account, where income-related transactions over more than 12 months are categorised as salary, pension, benefits or cash deposits.

In the current macroeconomic environment, where financial inclusion is critical, Income Check is helping ConTe.it Prestiti customers obtain the financial services they are requesting. Tink’s Income Check also streamlines the verification process; reduces the time and cost to apply for a loan and improves the user experience. 

Tink’s technology will enable ConTe.it Prestiti to roll-out and expand its lending offering across Italy.

Francesco Cristofaro, Head of IT & UX at ConTe.it Prestiti, commented: “At ConTe.it Prestiti, we are rethinking the personal loan market and by partnering with Tink we will be able to offer a more tailored loan exclusively on the characteristics of the individual applicant. This enables us to be truly inclusive in our financial services offering. For us, open banking is the essential starting point to becoming the first lender in Italy to offer instant loans. That is why we chose to work with Tink.”

Daniel Henriquez, Southern Europe Banking Lead for Italy at Tink, added: “Real-time insights are vital for accurate loan application assessments. Tink’s Income Check is fast, frictionless and based on up-to-date income information, rather than credit scores or antiquated risk decisions. This allows ConTe.it Prestiti to gain clearer, more comprehensive insight into a loan applicant's repayment ability, providing them with the best loan process available.”