Cancun, QR. The use of technology for risk management has become relevant in non-bank financial institutions, it is a matter of concern for Multiple Purpose Financial Institutions (Sofomes), so the discussion of digitalization in the granting of credit is on the agenda.
During the 16th national convention of the Association of Sofomes (Asofom), its president Enrique Presburger Cherem, pointed out that the integration of financial services technology in the sofomes is still a complicated issue for those in charge of digitizing the processes in these institutions.
“The issue of technology is complicated for all sofomes, who do you hire when yes or no, sometimes the workforce and the shortage of programmers, which destabilize technology service companies, is quite a dilemma”, Cherem explained.
In this sense, Emilio González, general director of Nu Mexicopointed out that the role of technology in granting credit has become relevant for financial institutions in recent years, adding that the interaction of these tools contributed to the creation of disruptive financial products and services.
“The impact of financial services technology is just beginning to be seen, many times there is talk about the differences between Fintech, Banks, Sofomes, in the end we are all going to have to use technology to offer better services. There are some segments in which it is even more important than others”, González commented.
Alternative data
The director of the main issuer of cards, indicated that financial inclusion is also a central axis in technologies, since the use of data to make better decisions for the granting of credit, explained that in the future the integration of models will be key. own risks with the information available and collected by institutions such as Credit Circle and Credit Bureau.
“In Mexico, something that we have managed to grow is our models, obviously these are fed by information from credit information institutions, in addition to other sources, and we make decisions based on those models,” he said.
In addition, Rodrigo Murillo, data director of Círculo de Crédito, commented that the use of tools for the collection of alternative information is on the agenda. On a personal note, he pointed out that financial technology companies in Mexico have a strategy of granting small amounts to observe the payment behavior of users.
“Las fintech that they are with the market, in terms of granting credit (…) what they are doing is risking giving small amounts, to capture more data, capture a population that was not served. They are being cautious in that when the amounts are low to see how they behave,” Murillo explained.
On the other hand, González pointed out that the creation of credit models has facilitated access to financing, he indicated that in addition to the low level of banking in the region, and access to credit is due more to a lack of adequate supply.
“The growth potential is very great, the adequate offer has not existed and we believe that making different decisions, in addition to creating an attractive product for the vast majority of Mexicans, will bring the adequate offer hand in hand with technology” Gonzalez added.
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