Milan, July 13, 2022 – In the last month, inflation has reached a record peak of 8% on an annual basis, and energy costs have risen as much as +48.7% (Istat data). In this economic context, Italian SMEs can resort to various tools to mitigate the impact of inflation: one of these is relying on services that leverage Open Banking to facilitate access to financing.

The "bollette" decree approved on June 30 allocated about 3 of the 8 billion euros to Italian companies with the aim of curbing energy costs for the current quarter. However, all this seems insufficient to truly support SMEs, which at this time require even stronger financial support, or risk slowdowns (if not interruptions) in business and negative consequences in terms of turnover.

Especially in this historical economic moment, Open Banking becomes an opportunity that every Italian SME (which, it should be remembered, represents 50% of the national GDP and is one of the key factors for the country's recovery) should consider in order to quickly receive a capital infusion.

Open Banking allows an individual's financial information to be freely used and shared by the owner, even with third parties (such as a credit institution that is not their own), without having to comply with the constraints imposed by their own bank.

It is therefore not only a powerful innovation compared to the past, but above all a safe tool, as it is fully regulated by the European PSD2 legislation, thanks to which every consumer can now have a wide range of competitive opportunities in choosing financing and payment solutions.

The financial services that have emerged following the spread of Open Banking allow the financial institution chosen by the client to view, with the client's approval, the latest transactions on their accounts. In this way, the bank quickly and securely verifies the company's cash flow and, consequently, its creditworthiness to receive financing. The result for SMEs is automated processes that are more reliable and rapid in assessing and disbursing liquidity.

Banca AideXa's financing solutions leverage the innovation of Open Banking, combined with AI and machine learning, to offer customers unique services in terms of simplicity and speed. A loan application can be evaluated in 20 minutes, and the money can be in the requesting entrepreneur's account in as little as 48 hours.

For companies, being able to access loans that are easy to request thanks to a 100% digital process and quick in response becomes extremely important at this time to receive adequate financial support when needed, without being subject to the long timeframes with which traditional banks evaluate and infuse credit.

Thanks to instant lending, Banca AideXa was immediately recognized by customers for its uniqueness. We are among the very few in the market capable of making a financing proposal in a few minutes and disbursing it in 48 hours. Fast, transparent, and simple: these are the adjectives that characterize our loans. And when inflation and high energy costs come to shuffle the cards on the table of businesses, these characteristics make a big difference. Thanks to technologies like Open Banking, we can now give concrete help to companies that ask for it.