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Salvador Calogero, Argentina representative of Vivus fintech.
Online lenders fintech have registered a growing demand this year, but they remain cautious in their offer of higher economic volatility and delinquency while expecting improvement next year and intending to launch new products.
"One is slowing down or accelerating according to macroeconomics and we see the risk context implicitly," said Ezequiel Weisstaub, CEO and co-founder of Credicuotas, a member of the BIND Group.
"We think there is a great opportunity in Argentina for what financial technology is," he added in a press conference.
Credicuotas expects to triple its customer base by 2019, and its investment portfolio has increased 7 times since 2016.
"We hope everything improves when the macro starts to calm down, lower rates, and disrupt job-related doubts," he said.
On the other hand, Facundo Vázquez, BIND Group's company director and COO, said that "the crisis is not a better opportunity if we had in mind late payments in 2001, it did not borrow more, at the moment which we are not even in 2001 ".
With a portfolio of over 2,000 million pesos, Credicuotas offers personal loans in stores for the purchase of durable goods with a presence in 2,500 stores; and personal loans online.
Vázquez explained that he is planning new developments, such as the Credicuotas payment button, "ready to go to the market and test the companies to launch it."
Year was very good, we increased by 90% in loan amount and 60% in volume"
Salvador Caloger, finti Vivus
"I would have expected to be in the second quarter of next year," he said.
In tuning, Juan Pablo Bruzzo, co-founder of Monte fintech, told Telam that the company "has increased each year by three and this year will grow slightly less."
"Not so much for demand, but more for caution before the situation in Argentina and to conclude understanding whether the real economy will have an impact on delinquency," he explained.
He said that the delinquency "in general in the financial system has grown to percentage levels and Moni is lower than in the financial system."
Bruzzo also referred to funding: "We have launched a 100% trust with digital assets and since May this market has dropped a lot, there is very little confidence since the start of volatility."
On the other hand, Alberto García, CEO of Crédito Directo, specializing in consumer credits through stores, chains and motorcycle agencies, said: "We will see a significant braking in mid-year consumption as well as systemic default thanks to the current situation ".
"However, our prospects for 2019 are favorable and we estimate that consumption is recovering by the end of the first quarter."
"For this reason, we strive to continue to accompany companies and agencies that are our strategic partners and to launch our B2C digital platform that aims to attract customers looking for an agile, simple, competitive and personalized alternative," he said. at Telam.
Meanwhile, Argentina's Vivus fintech representative, Salvador Calogero, told Telam that "the year was very good, we increased 90% in loans and 60% in volume."
"The demand is very good, but the macroeconomic situation puts us in the spotlight because we have foreign investors, for them it is important to have a stable macro context," he noted.
He said that "the group continues to bet a lot on the local operation and currently lends no more than 12 thousand pesos to 30 days, but in March / April we think about releasing quotas because we are betting the situation is improving."
"We have more demand because other channels have been closed down, market players are reducing their bid for interest rates, Vivus has real funding from its foreign shareholder," he said.
He said that "the prospect is to improve next year," and added that they are striving "to create more partners with which to be able to complement their long-term client, such as prepaid and insured."
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