As disruptive players and innovative technology shake up Mexico’s lending landscape, ProCredito has joined forces with MoneyPhone to reinvent loan origination—digitizing processes and products to bring fair financing to a new generation of customers.
Based in Mexico, ProCredito supports small- and medium-sized enterprises (SMEs) with credit products for machinery and equipment, working capital, transport, and investment. Its mission is to provide businesses with the funding they need to grow and improve their competitiveness.
ProCredito was founded with a vision to offer credit in a fair way to people excluded from the traditional financial system. The company is always working to widen its reach, and as new digital offerings gained ground in the market, ProCredito recognized that it had a valuable opportunity to bring all-important loans to a whole new demographic.
Guillermo Jiménez Sepúlveda, CEO of ProCredito, explains: “Digital lending is a growing trend in Mexico, and we don't want to be out of the game. We saw a window of opportunity to reach customers of different profiles, especially younger and urban customers who are not our market today.”
Driving a digital transformation
The opportunity is considerable, but so too is the competition. To gain an edge on other financial services providers, ProCredito needed a way to streamline credit generation activities that were typically time- and labor-intensive. With a new digital offering and faster service, the company would be able to scale up operations more efficiently and grow into new markets.
Eager to get its journey underway, ProCredito looked for a technology provider to help it shape a successful digitization strategy. The company found its ideal partner in MoneyPhone.
“We chose MoneyPhone because the technology and innovation they offer is very useful,” says Guillermo Jiménez Sepúlveda. “We also see their values aligned with ours: they aim to democratize credit and make a social impact, which is very important for our business.”
ProCredito will use MoneyPhone’s Digital Loan Origination Solution to support digital loan application and processing. The new platform will allow customers to apply for credit via ProCredito’s website and enable loan officers to manage loans via an efficient online workflow. The company also plans to use the platform to gain deeper insights into its customer base, which it can use to shape more personalized service and new rewards programs—building a better lending experience and strengthening customer loyalty.
Ready to grow
By embracing a digital approach, ProCredito expects to save considerable time and resources around loan origination, improving productivity and getting vital credit in borrowers’ hands faster. Crucially, digital onboarding makes it possible for the company to expand into new customer segments and regions without needing to open new physical branches. This gives ProCredito a cost-effective foundation for driving growth in a fast-moving and competitive market.
Chiinga Musonda, Chief Revenue Officer at MoneyPhone, comments: “We are proud to partner with ProCredito as they embark on their digitization journey. It’s a privilege to support ProCredito’s efforts to widen financial inclusion in Mexico, and we are excited for the new opportunities that they will unlock with MoneyPhone’s Digital Loan Origination Solution.”
Guillermo Jiménez Sepúlveda concludes: “Our goal is to be a leader in our market and a benchmark in Mexico. Our partnership with MoneyPhone is a way for our two companies to improve people’s well-being in a fair and friendly way for society. By working together to democratize access to credit, we can help create fairer opportunities for all.”
Please click the link below to view a demo of MoneyPhone’s Digital Loan Origination Solution:https://www.money-phone.com