Get Credit without paperwork

We are modernizing the credit industry through solutions that allow consumers to obtain loans via text message, in real-time and without paperwork. Read for a critique

Providing customers with a good shopping experience is increasingly important to businesses. But, with advances in mobile technology, which can do so much online, it can be quite daunting for a customer to receive a credit offer online and then have to fill out a form in person.

Getting a loan can be very time consuming

Getting a loan can be very time consuming

This process is slow and tedious, in addition to providing personal information while standing in line, it can expose customer privacy and even put them at risk of fraud, as well as potentially embarrassment if their credit is declined.

With a total of 58 million telephone lines in Colombia, mobile channels are essential to send consumers offers of products and services, including credits. Today, customers are more demanding, so they want to buy when it is most convenient for them, when they are ready, wherever they are. That is the key to relating to customers.

Transforming the way people earn credits

We want people to be able to get credits wherever they are. It could be at the store while exploring, then when they are at home and have had time to think about their purchase, or while on the move at the airport.

So we combine our analytical insights with our advanced technology tools for mobile device recognition and credit information to create a pioneering solution in the market – Text for Credit – that enables customers to obtain credit in real-time via text message.

When a customer is in a store, they are invited to send a text message to a cell phone number to see if they qualify for a loan to help them purchase an item. Then we confirm the person’s identity, their creditworthiness and respond with a personalized offer of credit. Customers do not need to complete a cumbersome credit application because our innovative technology allows us to recognize and verify any citizen through their number and their mobile device.

A hassle-free, personal and confidential customer experience

A hassle-free, personal and confidential customer experience

For consumers, this allows them to control when they want to apply for credit. It is convenient and confidential. They can complete a credit application safely and without embarrassment.

There is no more paperwork, no more anxious minutes waiting for credit approval, and there is a dramatic reduction in risk that comes from exchanging confidential information through the paper.

For companies like retailers, card issuers, lenders, and auto finance companies, it helps them better connect with customers when they are shopping and traveling, and provides instant credit decisions. This means an increase in credit approval and acceptance rates and in higher-priced items. They have happier customers and a higher sales conversion rate.