In 2023, Poland witnessed a staggering 4701 companies filing for bankruptcy. This number could have been significantly lower with better access to financing.
Wealthon, a forward-thinking financial services company, aims to dismantle the barriers faced by small and medium-sized enterprises (SMEs) imposed by traditional financial institutions. By offering a fully digitized and intuitive financing solution, Wealthon supports SMEs in navigating the challenging economic landscape, characterized by volatile laws, high inflation, and price increases.
Struggles of SMEs: An Untapped Market
SMEs, which make up 99.8% of all businesses in Poland, often find themselves underserved by large banks.
These entrepreneurs struggle with securing timely and adequate financing, crucial for their growth and sustainability. Wealthon identified this gap and sought to provide a seamless, efficient, and secure alternative.
A Game-Changing Partnership
Wealthon's partnership with Kontomatik has been pivotal in achieving this mission. The collaboration focuses primarily on the POSCASH product, a loan based on turnover from payment terminals. Kontomatik's service facilitates rapid and secure verification of customers applying for this loan, significantly expediting the financing process.
Wealthon chose Open Banking solutions for several compelling reasons, including its intuitive and user-friendly interface, ensuring a smooth experience for Wealthon's clients. Kontomatik's deep understanding of the Polish market and its regulatory environment was a critical factor. The system automates customer account analysis, reducing the process from 3-4 hours to mere minutes. Ensuring transaction integrity and security is paramount, and Kontomatik excels in this area.
The Wealthon Advantage
Wealthon's adoption of open banking, enabled by Kontomatik's services, highlights its commitment to innovation and modernization. Open banking allows Wealthon to access real-time financial data securely, providing a more accurate and efficient analysis of client profiles. This not only streamlines the approval process but also enhances the overall customer experience by reducing the time and effort required to obtain financing.
Transforming Operations and Client Experience
Since integrating Kontomatik, Wealthon has transformed its operational efficiency and customer experience. Wealthon can now decide on financing within 7 minutes, a drastic improvement that positions the company as a leader in rapid financial services.
The entire application process for Wealthon Wallet and POSCASH products is fully online, enhancing accessibility and convenience for clients. The quick turnaround time and seamless process have received positive feedback from customers, reinforcing Wealthon's reputation in the industry.
The Power of Collaboration
The partnership with Kontomatik has been marked by seamless integration within Wealthon's product suite, ensuring uninterrupted service delivery. Kontomatik's customer service is prompt and effective, always open to suggestions and improvements. Its extensive market coverage and experience in multiple European markets align with Wealthon's expansion plans.
For other financial institutions considering similar solutions, Wealthon’s experience underscores the importance of choosing a partner with local market expertise, robust security measures, and a commitment to continuous improvement. Kontomatik has proven to be an invaluable asset, becoming a partner with whose help Wealthon can continue to provide exceptional services and support further growth among SMEs.
