The annual report of the IDB Fintech in Latin America 2018: Growth and consolidation, qualifies Finsocial, a dedicated company, to provide financial solutions to clients through credits for drafts, as one of the Fintech companies with the most outstanding investments during 2017, and is among the four most representative Colombian companies.
Fintech are those financial services companies that use technology to offer agile products and services.
The document, which provides for the first time a consolidated vision on the activity and development of the Fintech industry in the region, registers the existence of great players like Brazil, but highlights Colombian companies to which Investment funds have bet on its growth .
According to Santiago Botero, CEO of Finsocial, the objective of the firm has been to consolidate its operation as a highly efficient financial institution, taking credit to all areas of the country quickly. “We seek to reach populations where traditional banking does not reach, and do so in a fast and efficient manner.
From our philosophy The Power of the Simple, we have always used FINSONET technology to grant them in an agile and safe way; in this way we are aligned with the Fintech companies, which has been very important to achieve an outstanding investment in 2017, from the Kandeo private equity fund, for more than USD 17 million “.
Finsocial is characterized by being at the vanguard in innovation, having licensed a financial software for banks. It stands out for the processes it handles technologically from the arrival to the client, digital credit study (work flow) and the analytical process to better prospect.
Last year it originated USD 60 million in credits, ending with a pre-tax profit of USD 3.5 million. Its objective for this year is to reach a placement of USD 120 million, which would mean USD 13 million in monthly disbursements.
His business history, with a vision of CAPITALISMO CONSIENTE and a social approach, is betting on the education sector and pensioners in Colombia, resulting in excellent quality loans to financial institutions, in addition to reaching clients from the most remote populations who are not banked.