From now on, Banco do Brasil account holders will be able to compare personal loans through the platform of Fintech company Bom Pra Crédito (BPC), a marketplace that simulates the conditions offered by 36 financial institutions.
This will be possible thanks to an unprecedented partnership between BB and BPC. “For the first time, Banco do Brasil clients will be able to contract personal loans in an environment outside the mobile phone app and bank branches,” commented Ricardo Kalichsztein, president and founder of BPC.
Born2Invest application is a fast and easy way to check the latest business headlines. It gives users access to recent publications and stories, media and objective analysis, thematic sections and feeds.
The first offer on the platform will be a personal loan, BB Crédito Automático. Other lines will be available later, such as BB Crédito Salário and consigned credit. For Marcos Coltri, BB’s director of loans, financing and real estate credit, the partnership reinforces the bank’s leading position in a competitive market.
In fact, Banco do Brasil has been innovating since it launched its open banking platform in June 2017. In August last year, it announced a partnership with the business management startup ContaAzul and launched an API with Fintech company Bxblue, which compares consigned credit for retirees, pensioners, and public employees.
Banco de Brasil hopes for widespread adoption
“At first, BB’s loans will be offered only to the bank’s account holder. The conditions are expected to be at least equivalent to those offered in the institution’s traditional channels,” said Kalichsztein. BB’s entry into the platform should accelerate the achievement of BPC’s goal of almost doubling the value traded in 2020.
By 2019, the platform has intermediated the concession of $146 million (R$ 600 million), and the goal is to reach $244 million (R$ 1 billion) next year. “In order to achieve this, we will expand our scope with the entry of other institutions, such as credit rights investment funds (Fidcs) and wealth managers,” said Kalichsztein.
At the same time, the projection is to double the total number of users, from the current $1 million (R$ 7 million) to $3 million (R$ 15 million) next year. This influx of users will also come from the investment in offline media, thanks to the contribution of $8 million (R$ 35 million), led by Grupo Globo, this year. In October 2018, Fintech had already received $5 million (R$ 22 million) in investment, led by the Innova Capital fund, which has already invested in companies like Movile.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in EXAME, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Which of these lesser-known EV stocks will be the next Tesla?
The competition on the EV market is getting tighter, as several lesser known manufacturers are raising the interest of investors....
Gigantic cannabis plantation officially opened in Northern Macedonia
In addition to the cannabis plantation, PHCANN - which is also listed on the New York Stock Exchange - has...
Is the Ethereum 2.0 deadline bullish for the ETH course?
With the launch of Ethereum 2.0, a new era could begin for the young Decentralized Finance (DeFi) industry. The change...
Exit for an SME financed with equity crowdfunding: Cesynt shares on Euronext
Founded in 2010, Cesynt had already conducted a first equity crowdfunding campaign on Opstart in June 2018, collecting $297,000 (€250,000),...
The business environment in Morocco: the EESC calls for more effort
In its annual report, published in the Official Gazette on November 17th, 2020, the Economic, Social and Environmental Council in...
Cannabis6 days ago
CBOS survey: over 60% of Poles are for cannabis legalization
Biotech6 days ago
Ability Pharma closes €2 million round to advance antitumor development
Featured6 days ago
Moneyfarm launches smart bank transfer to invest directly from the current accounts of multiple banks
Featured6 days ago
How to generate performance through responsible investments