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.
Top 10 Forex Risks To Consider Before Starting Currency Trade
This article shows you the fx risk to expect while performing forex trade and how to mitigate them and ensure...
Why are investments in the fintech sector set to break records this year
The fintech sector has had a great year so far, according to investor Humberto Herrera Rincón Gallardo, who thinks that...
Biotech companies are getting closer to find the eagerly awaited COVID-19 vaccine
Moderna agreed to sell its coronavirus drug at a "pandemic price" of $32-37 per dose.The biotech company registered losses of...
Switzerland returns $35.6 million to cannabis light producers
Swiss companies producing light cannabis products have received $35.6 million (€30 million) from the customs authorities for illegal taxes previously...
The iCashly finance management app campaign overfunds within an hour of launch
iCashly is a new finance management app that is about to be launched, after succeeding to overfund the crowdfunding campaign...
Business7 days ago
How to keep people on your website longer
Biotech6 days ago
The Spanish pharma sector increased its profit by 18.4% in the first semester of the year
Business6 days ago
The financial guide for newlywed millennials
Featured5 days ago
The Italian fintech company Fido closes a €1.1 million financing round