Currently, access to credit in Mexico has been increasing, noting an increase of the 8% in 2020 in relation to the value of the loans delivered in 2019.
In this context, it is a necessity for companies in the financial sector to have tools that facilitate the credit origination, streamlining processes and making them more secure.
How does a credit origination platform work?
It is a system that integrates management functions for financial entities, allowing you to streamline tasks such as validate identity of users before approving a loan. For this, a platform of this type must integrate certain elements. The most important are:
An API is a set of codes that works as an interface between one software and another. In short, you can adapt the credit origination platform to your website without any inconvenience and personalize every detail with the colors and logos of your brand.
API integration means that you application developer You don't have to build an entire system from scratch or migrate entirely to another location to run the origination platform in conjunction with your website or web application.
This is a model that improves the results of your company because it facilitates interoperability and allows generating new systems from an existing one.
KYC comes from English Know Your Customer, a concept that has become a standard within the financial sector to ensure that detailed information is known about the risk tolerance, investment knowledge and financial condition of clients.
This is even a measure that has been increasingly adopted thanks to its relevance in identity control and money laundering. In fact, In Mexico, KYC tools are essential for fintech companies that provide online services, since in recent years the CNBV (National Banking and Securities Commission) has begun to demand validate identity to prevent spoofing and fraud.
Therefore, a credit origination platform allows you to validate the identity of your clients online, safely and reliably. In short, the ideal product for Fintech companies.
One of the most important elements within a credit origination platform, and that goes together with the KYC, is the digital file. This gives you the security you need and the speed that users are looking for.
You will be able to collect the data of your clients through your website / web application (either from the upload of digital documents or from the phone's webcam), validate the identity of the users in a matter of minutes and evaluate the financial profile to grant The credit.
Benefits of technology to manage the credit process
Credits have always been a fundamental tool within the economy, which implies that their demand is constant. Now, it also means that security protocols must be reliable and that processes should be as efficient as possible.
Thanks to technology, today you can automate operations such as data validation through a reliable system that will help you improve competitiveness and performance. You can also centralize information to make better decisions, reducing internal communication problems.
At Codster we have built the ideal product for integrate credit origination to your website or applications. Try our digital documentation platform and improve the productivity of your business in seconds. Contact us and start taking advantage of the benefits of having your own credit origination system.