BARCELONA, Spain--(BUSINESS WIRE)--In November 2016, MoneyMan granted the first loan through MoneyMan.com.br website to a resident of Sao Paulo, Brazil.
One of the service’s advantages is a fully-automated process of loan review and granting. MoneyMan Brazil utilizes the risk assessment models developed by IDFinance. The seventh-generation decision-making system includes global and local scoring tools; applies elements of machine learning, probabilistic risk assessment based on statistics and analysis of data obtained from multiple sources.
The project has been implemented in cooperation with Socinal Financeira bank and serves as an integration example of a FinTech company and a traditional lending institution. Through API, MoneyMan utilizes the bank infrastructure as a lending platform. Hence, MoneyMan automates processes and concentrates on key competences: customer acquisition and risk assessment without diverting resources to the back office, whereas the bank monetizes the structure and the staff.
“The Brazilian market of online lending has a maximum potential in LATAM. The population of the country is about 207 million people, 130 million of which have high-speed Internet access. Expansion of telecommunication services brings about an increase in volumes of e-commerce, a rise in interest to online banking and services of non-banking online lending. The potential annual volume of the online lending market in Brazil may be $7 billion,” declared Boris Batin, IDFinance Co-Founder.
“IDFinance will continue its international expansion. The range of interests of the FinTech Group includes such states of Central and Southern America as Mexico, Columbia, Peru, as well as Eastern Europe countries. We are intending to use the unique competences of business scaling in the shortest possible time as our competitive advantage,” said Alexander Dunaev, Co-Founder of IDFinance.
Brazil has become the sixth country where IDFinance projects are in operation. Besides the company currently runs in Spain, Poland, Georgia, Russia and Kazakhstan under MoneyMan and AmmoPay brands. IDFinance is a fast-growing FinTech company specializing in data science, credit non-fico scoring and online lending in emerging and well-developed markets. The company concentrates its R&D efforts on developing innovative risk assessment models stepped up with proprietary high-tech instruments of predictive analytics and developing secure applications for both web and mobile platforms. It brings innovations into emerging markets and provides financial inclusion as a social mission. More info at idfinance.com, official Facebook and Twitter pages.
