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Saturday, September 24, 2022

How a credit product is thought from scratch

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To achieve the expected results, it is necessary to consider the risk/loss appetite that you are willing to take on. For this, the approval policy is key to segmenting potential clients, defining what level of indebtedness is admissible, as well as also what percentage of the client’s income is at stake in the financing.

In order to increase the chances of success of the product of credit that will be launched on the market, it is important to analyze the behavior of the originations to provide feedback to the credit model and thus build a virtuous circle where the variables used help to more accurately discriminate the desired behavior, accompanying it with the possibility of renewing the loan. credit with a major amount/term.

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One of the many challenges is to work on detecting compliant customers and retaining them with a better product offer is key to success. Another is to find what will make the credit to throw is different from the many offered by the competition. Although potential clients have different expectations when taking out a loan, there is one that can be summarized as: agile and efficient access with fast disbursement, adaptable expiration options and physical and digital payment.

In Argentina there is a great need for financing since banks have a limited supply of profiles of individuals with credit scores with a long history and great payment capacity. The opportunity clearly lies in addressing the underbanked segment with credit offers tailored to their needs.

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Product Manager at Wenance.

Source: Ambito

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