The research reveals a diverse profile among applicants in terms of gender, age group and source of income
In the first half of 2023, people between 25 and 45 years old, with an income of up to R$3,000, were responsible for 65% of personal loan requests, according to a survey conducted by Simplicik, an online personal credit fintech, in collaboration with Klavi, a SaaS platform specialized in Open Finance solutions. The study shows that more than half of the applicants (51%) have a formal contract, 26% are self-employed and 9% work informally.
According to the survey, loan payments are one of the most common recurring expenses (30%), followed by credit card expenses (29%), taxi or transportation requests (21%), pets (10%), travel (9%), and education (7%). The document highlights that the analysis of loan requests at Simplici, in the first half of 2023, reveals a diverse profile among applicants in terms of gender, age group and source of income. You can access the full results of the study here.
“One of the obstacles for people in classes C, D and E is precisely the accumulation of debts, which prevents access to balanced credit offers, which would help to pay off the most onerous debts, whether they are freelancers or owners of a regular employment contract. to contract. But since a customer who is unable to pay their debts is not attractive to any financial institution, the market is interested in bringing financial education to the low-income population,” says Bruno Chan, CEO and co-founder of Klavi.
Open Finance can be an ally
The study data reinforces Open Finance as a powerful ally for financial institutions and customers: secure data sharing allows companies to understand the profile of their audience and adapt their solutions to serve them, transforming the personal and financial lending market, making them more accessible, agile. and adapted to individual needs.
“The results are extremely important for the development and improvement of the sector. Knowing the profile of those asking for credit in Brazil is golden information. Therefore, Open Finance and fintech actions represent important steps towards an inclusive and fair financial system, where access to credit is not limited by economic history and circumstances. With these changes we are building a more equitable future for everyone”, explains Rogério Cardozo, executive director of Simplicio.
Role of fintechs in credit provision
At the forefront of developing innovative and personalized products, fintechs play a crucial role in the provision of credit. Just like startups, they are born in the cradles of technology and using data science to meet the needs of their customers is usually part of the core business of the segment.
In-depth analysis of user information leads to a deeper understanding of the consumer profile, while also minimizing the risks of default.
To collect Open Finance data, Simplici uses the Klavi Ki solution. Developed by Klavi, the fintech creates a path where the user can give consent to share their data. In addition to receiving information about current account transactions, the credit fintech also has access to cash flow, credit analysis (overdraft and pre-approved loan), as well as data such as IPVA, IPTU and FGTS payments.
“People think credit is a problem, when it’s not. Credit is an additional resource that allows you to purchase goods or services. The truth is that many people enter the debt spiral because they don’t know exactly how much they earn, they confuse the gross salary with the net salary and arrive at the end of the month without money to pay the loan instalment. And our goal is to change this scenario through Open Finance,” emphasizes Chan.
“This understanding is critical, as data can help financial institutions develop appropriate solutions that meet customers’ specific needs and expectations. Many times, people have had temporary problems and are recovering. There are several variables, and data analytics helps you collect, store, and interpret user information more accurately. This helps to better understand one’s personal profile, consumption habits and ambitions”, concludes the Simplici manager.
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Source: Terra
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