BNP Paribas Personal Finance enters the Dutch consumer credit market - BNP Paribas Netherlands
BNP Paribas Netherlands News & Press
News & Press
January 25, 2018 -

BNP Paribas Personal Finance enters the Dutch consumer credit market

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BNP Paribas Personal Finance, a subsidiary of BNP Paribas, launches a fully online consumer credit product today which consumers can adapt to their own financial situation. This ‘Personal Loan’ is offered via brokers. BNP Paribas Personal Finance is already the market leader in consumer credit in France and the rest of Europe.

The consumer credit market has changed considerably in recent years. Due to the improving economy and increasing consumer confidence, demand for consumer credit is growing, according to market research conducted by BNP Paribas Personal Finance. Market research also shows that consumers want to adapt a consumer loan as much as possible to their personal situation, for example via a flexible direct debit date.

BNP Paribas Personal Finance meets this market demand with the ‘Personal Loan’, a product that consumers can adapt to their personal and financial situation. Customers can determine the monthly direct debit date, adjusting the monthly amount or making a one-off payment themselves without paying extra costs. In addition, the application procedure is fully digital processed and is offered via (online) intermediaries.

Alexander Paklons, CEO at BNP Paribas Personal Finance:
“This launch reflects our commitment to the Dutch market. Due to recent changes in regulations and economic confidence, we believe that our ‘Most Personal Loan’ meets the credit needs of many consumers. We also believe that a fully digital offer fits the modern customer needs, with consumers who expect to be served quickly and want to have a product that fits their personal situation.”

The most personal loan
The ‘Most Personal Loan’ is a flexible product with the possibility of free full repayment before the end of the term. The term of the loan is fully aligned with the economic life of the loan target. When a customer deceases, up to € 25,000 will be remitted. . Extra flexible product characteristics ensure that the loan moves along with the consumer. The consumer can choose and change the desired debit date himself and increase and decrease the monthly repayments.

The loan can digitally be requested, and can also be signed, paid out and managed online. Both the customer and the intermediary have access to the portal where they can view current details and the current state of the loan. In this way the intermediary is always aware of the current customer’ situation and is able to fulfill his duty of care.