Dubbed CheckAhead, the service generates credit scores based on transaction and balance data within two minutes, leading to more efficient credit assessments and less administrative burden.Most suitable for leasing companies, suppliers, business lessors and (credit) insurers, the bank says the new system is a more reliable alternative to traditional credit assessment, a process that is often time-consuming, and based on outdated annual figures.A pre-launch pilot revealed that using more up-to-date financial insights helped companies to close 20 percent more deals, because there is more confidence in the customer’s creditworthiness.Laurens de Vos, director of business banking at ING, says: “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 says the bank has started piloting the system in other countries where it has business banking operations including Romania, Belgium and Germany with a view to commercial roll out in late 2025.