About Us (English)
When comparing financial services in Mexico with those of the first world, its deficiencies are notorious: millions of people without access to financial services, insanely high interest rates for borrowers and extremely low for savers, millions of annual complaints due to poor service, and an excess of transactions made with cash. Each of these problems is a burden that makes it extremely difficult for Mexicans and our companies to take advantage of our ability to work, generate wealth and make it grow, thus perpetuating the environment of poverty that surrounds us.
Faced with this great problem, a huge opportunity arises: the revolution generated by financial platforms. These platforms, for instance, have reduced credit procedures that previously took months to a matter of minutes, have provided universal access to high-yield, low-risk investment products, and have digitized transactions, making it unnecessary to carry cash and revealing the financial lives of people. These changes have occurred on a large scale in European countries, in the United States and in a large part of Asia, mainly in China. Now, it is time for Mexico to join in.
A platform is, by definition, a structure capable of growing exponentially, each iteration with a lower cost per customer. In finance, to achieve this effect requires strong investments in technology (infrastructure, data science, interfaces and applications), adequate regulatory figures, and the ability to attract massive capital to generate high growth with low levels of risk. As if that were not enough, this revolution is being led around the world by entrepreneurs who challenge the status quo and who put the benefit of their customers at the center of their universe.
All of the above elements are present in Mexico with impressive force. Access to top-tier technology has been simplified with cloud services. The new figures created in the Law to Regulate Financial Technology Institutions facilitate access to new players; the consolidated figures, such as the Multiple Banking Institution and the Popular Financial Society, have evolved to enable the use of new technology while maintaining its regulatory advantages (payment of interest in savings, use of funds to make loans and savings insurance). Venture capital is moving towards our country in an unprecedented way, with a strong specialization in financial technology. These new capabilities will undoubtedly combine to change the face of our financial services.
At Crediclub we are fortunate to be at the epicenter of this revolution. We are the result of an entrepreneurial project, supported by executives from the largest capital funds in the world. We have the regulatory status and the ideal mix of financing sources to grow in a sustainable way. Our history, performance and organization place us in the category of “low risk” by the most prestigious rating agencies. We have state-of-the-art technology and the ideal equipment to get the most out of it. And, above all, we have the highest standard of honesty and a firm purpose to improve the quality of life of our customers.
We firmly believe that strong financial services are essential to improve people’s quality of life. We look forward to the revolution of financial platforms to be reflected very soon in world-class financial services for Mexicans, and we are honored to be part of this revolution.
Article by: Juan Francisco Fernández and Gabriel Ruelas, co-founders of Crediclub.
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