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ING launches Credit Insurance Application

Jul 30, 2020

ING CPRI has grown rapidly surpassing $10 billion lendings insured in 2020

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ING launches Credit Insurance Application. Source:
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ING will launch the Credit Insurance Application (CIA) through its partnership with genesis, the Low Code Application Platform for financial markets.

CIA is a deal-flow and portfolio application that will transform the management of credit and political risk insurance (CPRI) worldwide.

ING’s London Innovation Lab has spearheaded the CIA to improve efficiency and promote digitization across the $300 billion global CPRI markets.

CIA also aims to increase connectivity and efficiency during the end to end credit insurance process.

Both cloud hosting and genesis’s Low Code Application Platform provides faster deployment, increased functionality, and control. It can be easily customized and connected to external market platforms.

The rapid expansion of CPRI both in volume and geographically has led to a large exposure that needs to be managed. Historically low-tech working practices with no specific system architecture create cost and efficiency challenges. By joining forces with genesis, we created a tailored solution that will drive efficiency. Innovation is in ING’s DNA and I am delighted that our London Innovation Labs have driven this to transform market practice in a very traditional market. London’s fintech sector continues to be a center for innovation and expertise, and we look forward to working with our partners to lead improvements in market practice across the board
Jean-Maurice Elkouby, Head of CPRI, at ING 

We’ve reported that Deutsche Bank?will allow?Airwallex to provide virtual account collections and API-enabled FX services in Japan and Hong Kong, respectively.

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