- The digital tool generates tailor-made loans in just three minutes for the digital customer
- This agreement is yet another example of Banco Sabadell’s commitment to innovation to enhance the customer experience
Banco Sabadell, through Sabadell Consumer Finance, has reached an agreement with the fintech company Nemuru to make it easier for professionals in the renovations sector to offer their customers instant loans at the point of sale through a 100% online platform. After the development and integration process, Sabadell Consumer’s agreement with Nemuru, a 100% online technological platform that generates and manages instant loans at the point of sale for customers in the renovations sector, has been signed, and the first transactions have begun.
Banco Sabadell Group’s commitment to continue working to streamline personal finance by connecting its financial products and generating added value which, with the agreement signed by Sabadell Consumer, enables customers of the different Spanish companies and SMEs in the renovations sector to offer tailor-made financing at the point of sale and in just three minutes via a mobile phone. With this alliance, users improve their access to financing; service professionals have a digital tool for generating instant loans to acquire new business; and the bank continues with its commitment to innovation to enhance the customer experience.
Joaquin Subira, Assistant General Manager of Sabadell Consumer Finance, states that “the collaboration of banks and startups is essential in the path of innovation and open banking, as well as to broaden the distribution of the financial offer. Thanks to our technological implementation with Nemuru, we are even more prepared to offer products on third-party platforms, thus providing greater and better customer access.”
“Customers can access the personalised loan immediately, as financial institutions rely on our technology and knowledge of the sector to generate the loans they will then finance, receiving direct payment from the customer,” states Pere Monràs, CEO and co-founder of Nemuru. “Having Sabadell Consumer Finance is a catalyst that will enable us to increase the scalability of the business and grow exponentially, as well as strengthen our customers’ trust” he adds.
Nemuru acts as an intermediary that enables service sales professionals in the renovations sector to offer instant and flexible financing options to their customers at the point of sale, helping them to develop their business through the possibility of closing more estimates and of a higher average amount, and without an operational cost to them, as it is managed directly with the customer and the bank. In addition, the platform digitally replicates the usual process of service progress certifications, which empowers the end customer and reduces the operational burden to the renovator, who does not have to follow-up with their customers and receives payment easily.
The fintech company, founded in 2018, has more than 350 professionals currently registered on the platform and has already surpassed the one million euros barrier managed monthly to renovate homes. The personal loans managed by the startup range from €1,000 to €20,000 to be repaid up to 36 months.
Nemuru is the first technological platform to generate and manage 100% online loans at the point of sale with a focus on medium/high amounts and the service sector. The company is an intermediary between the professional, the customer and the bank, and is at the service of service sales professionals to offer instant and flexible financing channels to their customers at the point of sale, helping them to scale their business thanks to the possibility of closing more estimates and of a higher average amount, and without an operational cost to them. Nemuru offers personal loans of up to €20,000 to be repaid up to 36 months.
About Sabadell Consumer Finance
This company is wholly owned by Banco Sabadell and specialises in consumer finance. It operates through different channels and mainly through cooperation agreements. Sabadell Consumer Finance aims to make it easier for businesses to sell their products or services instantly, enabling the end customer to pay in convenient monthly instalments, quickly and easily.