Change Capital
Innovation introduced in 2019
Institutions that have implemented the product/service: Banca Popolare di Cortona, Banca Valsabbina, Confidare, Consorzio Veneto Garanzie, Fider and Confcommercio Trento
MSMEs served: Italy, Spain
Challenges
Access to credit for SMEs and individuals in Italy is becoming more complex. The advent of Fintech is providing a vast offer of services that are often unclear and unknown to entrepreneurs that spend time and resources in finding the right solution to fit their needs. Change Capital found a resolution developing a proprietary algorithm that enables entrepreneurs to discover, using only the VAT number, the amount of liquidity obtainable by the SME through over 100 financial solutions offered by our partners. In addition, our platform CC Suite leverages Artificial Intelligence to predict the liquidity needed by the SMEs to keep up with competitors and calculates from the balance sheets of the company the eligibility criteria that financial institutions consider in evaluating a business to assess if a specific company is eligible for a specific financial product, also providing a success probability calculated using Machine LearningPrimary target
Which group does your product/service primarily target?
Factoring
SMEs
Credit Guarantees
SMEs
Cash Management
SMEs
Other (Please specify)
Specify
Financing instruments
Description of Innovation
Change Capital created a platform leveraging on a proprietary algorithm that enables entrepreneurs to discover, using only the VAT number, the amount of liquidity needed by the SME to keep up with competitors and the amount they can obtain through over 100 financial solutions offered by our partners. Furthermore, the use of Machine Learning provides to the entrepreneur an estimation of the success probability of the financial operation. It is calculated exploiting the historical records of the whole basket of operations won and lost since Change Capital was founded comparing the SME with similar ones already presented to the partners. Lastly, Change Capital team is formed by skilled professionals that assist and support the entrepreneur from the selection of the best products for its business, to the document collection process until the closure of the deal with the selected partner.Change Capital innovates access to credit for SMEs and individuals identifying the best financial products leveraging Artificial Intelligence.