Wise Money develops its platform to streamline the credit approval process
By Edlyn Cardoza
Wise Money – a startup whose platform allows it to cross-reference loan applications from individuals with the availability of investor resources in the segment known as peer-to-peer lending – accounts for the benefits of its proprietary technology, which makes the credit intermediation process transparent and fast.
With investments of over R$ 2 million made in the last two years and constant improvements, Wise Money’s platform combines Artificial Intelligence and data science capabilities and allows virtually all the steps of the granting of credit to be carried out automatically.
“Wise Money’s platform aims to narrow the way between credit seekers and investors willing to grant it,” says Diego Camacho, founder and CEO of Wise Money. “We use data from the stakeholder’s profile from sources that assess the existence of debts, potential fraud and the existence of other active loans and financing. But it’s the intelligence we add to them that allows us to approve orders and determine, with a high degree of accuracy, each borrower’s score, using intelligent algorithms that consider the variables that impact people’s ability to pay.”
Renato Octavio Schreurs Pires, CFO of Wise Money, adds that the technology aims to make the process as automated as possible. “Each investor, through a dashboard, has access to the requests that have been approved, the conditions of the loan requested and the rates of return offered. In this way, they decide directly who and how much they are willing to finance.”
Since it began operations in November 2020, during the pandemic, Wise Money has reached R$ 10 million in brokered amounts – about R$ 700,000 each month – and has consolidated a portfolio that serves 25,000 policymakers and about 630 active investors.
“Technology has been an important ally of peer-to-peer lending market development and is enabling the growth of our operation to take place consistently and sustainably by presenting good business opportunities to investors and access to credit for borrowers often in better conditions than those available in the traditional market,” concluded Camacho.
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