How banks can help their customers in times of COVID-19

In light of the COVID-19 outbreak and its impact on the economy, the German government and Finance Minister Olaf Scholz have agreed on a comprehensive aid package for companies in Germany. These measures are intended to help companies to cope with the corona crisis, e.g. through continued wage payments, and to secure their liquidity. The state-owned KfW Banking Group has the task to facilitate the short-term provision of liquidity assistance to companies (KfW corona assistance). Besides KfW, the house banks play a major role in granting loans and thus – ensuring business continuity. Banks must act now to support their customers in the application process!

finleap connect

How do companies obtain financial support?

Applications for bridging loans are made through the house banks. In view of the Corona crisis, they work in emergency mode – making it virtually impossible to arrange an appointment to apply for a loan. In addition, the required documents must be submitted in paper form, so that the process can take up to eight weeks even in times of no crisis. Even successful small and medium-sized enterprises (SMEs) have only limited capital resources, which will probably not be sufficient to survive the corona crisis unscathed.

What do SMEs have to do?

Among other things, they need the following information when submitting their application

  • an account or account overview of the last three months
  • capital and cash budgeting
  • the verification and identification of a confirmed bank account for the payment of the emergency aid

What can banks do?

Banks can do their part to help fight the pandemic. Their aim must be to provide small and medium-sized enterprises with loans quickly and unbureaucratically. This can only be achieved through a completely digital process. If this digital process is currently not available, third-party providers such as finleap connect can provide fast and targeted assistance.

How can finleap connect support banks in this process?

We offer our account service to banks to:

1. receive the necessary account overview, capital, and cash budgeting in digital form and

2. confirm the payment account

The bank achieves rapid implementation by integrating the connectivity widget, which banks use to speed up their loan applications by integrating their customers fully digitally. This includes both a lean identity check process and categorized account data for your risk classification/decision-making.

finleap connect


What opportunities are there for banks? 

There are several advantages for banks:

1.  Be able to provide tangible added value to the preservation of German SMEs and thus help German society to overcome the crisis

2.  Generate new business volume in the credit sector because you are both faster and more digital than other banks


Sounds exciting? Talk to us – with the offers in our ecosystem we always find a solution.

For a demo or to make an appointment at short notice, please contact Christian Hegeler, via


Benefits of Payment Initiation Services via Open Banking to simplify invoice processing

Processing invoices is an integral part of running any business successfully at any stage. As the business continues to grow, the challenges associated with handling invoices lead to manual errors and the costs stemming from the use of both credit cards and traditional payment methods. Read here about how Payment Initiation Services via Open Banking help to overcome these challenges and brings more opportunities for businesses with increased profit margins, seamless payment journeys and no chargebacks for businesses.

Read More

Episode 130 of the Fintech Scaling Show: The Mindset of Scaling with our CEO, Nicola Breyer

Richard and Nicola Breyer, CEO of finleap connect, discuss how fintech leaders can become overwhelmed or confused about what steps to take to grow their companies, and how this can speed up the scaling process with the right mindset. They discuss everything from funding an enterprise to marketing and building a team, and how each action requires the right frame of mind to get the best results.

Read More

Using Payment Initiation Services to improve conversions for eCommerce businesses

A complicated checkout process is one of the major reasons why users abandon the checkout process, as 17% of shoppers in the study conducted by Baymard institute in 2022 responded. Payment Initiation Service (PIS) uses Open Banking as a basis and allows for account to account payments without making  customers register for a payment service and without experiencing friction during the customer journey.

Read More