Financial Technology for “chas-chas” Credits – El Financiero

Financial Technology for “chas-chas” Credits - El Financiero

Mexican, Russian, Spanish… No, this is not a joke. It is the origin of Fintech Finvero’s history, which aims to finance small and medium businesses and their customers with consumer loans.

The company, which was founded in 2018 as a technology credit software company and has been providing financing since June 2021, uses artificial intelligence and data analysis to understand customer needs and determine which of them will have the ability and willingness to pay.

Companies that register on the platform are notified by Finvero employees, who help them learn about their credit sales opportunities, for example, assess which customers can offer them the option to pay in installments.

Fintech provides liquidity to the business that gives credit and is also responsible for collecting it.

While users can also request financing for purchase. Whether in-store or online, they have to scan a QR code, where you can see product characteristics and credit terms. The platform will ask for some data to evaluate the order, and if approved, they pay and enjoy the purchase.

Requirements are INE, take a Photograph And answer some questions. The answer, says the company, will be given in five minutes.

“Finvero’s credit-financial solutions allow the purchase of products at points of sale for commercial chains, businesses and small businesses to increase their sales, increase the average purchase amount and enjoy instant liquidity. This phenomenon generates a virtuous circle for Mexico’s economy in the midst of a pandemic,” he said in an interview with FinanceMario Hernandez, CEO and Co-Founder of Finvero

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The credits granted range from one thousand to 45 thousand pesos. Hernandez noted that they committed more than 1 million users by the end of the year with more than 100,000 credits per month.

“This year’s OpenBanking regulation of Fintech law will come true, and Finvero will create better conditions that adapt to the needs of its customers in this new model of shared data and new payment models,” added Mario Hernandez.

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