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.
Corona crisis causes cannabis prices to soar in Berlin
The ban and exit restrictions in Germany are taking effect in stopping the coronavirus pandemic. However, the pressure to prosecute...
Biotech company Evotec is showing strong performance on the stock market
Evotec shares are showing a strong performance, as the price increased by 5.15% this week. The company is expanding its...
The private sector in Algeria on the verge of disaster
The combined effects of the Hirak Movement and the Covid-19 health crisis make companies in Algeria fear the worst in...
AscensionX launched a crowdfunding campaign to build an artificial respirator
The four professionals behind the 3D electronics, modeling and printing studio AscensionX, in Longueuil, wanted to put their skills to...
Public and private collaboration will be the norm as COVID-19 is contained
To reset the economy in 2020, trillions of dollars will be sent to state and local governmental entities. Congress is...
Featured4 days ago
The corona crisis increases demand for loan via Fintech platforms
Featured5 days ago
The Italian FinTech sector is rapidly evolving
Business5 days ago
3 business intelligence trends to watch for in 2020
Biotech6 days ago
Genfit is adapting its activities in accordance to the coronavirus pandemic