{"id":5270,"date":"2017-08-16T09:58:51","date_gmt":"2017-08-16T09:58:51","guid":{"rendered":"https:\/\/insights.invyo.io\/latam\/?p=5270"},"modified":"2018-02-12T15:47:44","modified_gmt":"2018-02-12T15:47:44","slug":"credility-is-awarded-by-nxtp-labs-argentina","status":"publish","type":"post","link":"https:\/\/insights.invyo.io\/latam\/fintech-corner\/credility-is-awarded-by-nxtp-labs-argentina\/","title":{"rendered":"Credility is awarded by NXTP Labs Argentina"},"content":{"rendered":"

Credility, an online lending platform for SMEs, has been awarded during the NXTP Pitch Competition 2017.<\/strong><\/p>\n

\"\"A jury composed of\u00a0financial industry experts and VC<\/strong> investors<\/strong>\u00a0selected Credility<\/strong><\/a> as the winner of the last NXTP Labs Fintech program<\/em> in Buenos Aires. The Argentine startup, co-founded by Federico Gomez Romero, Matias Iturralde and Juan Carlos Christensen, is targeting a major concern in the country and came up with an innovative solution.<\/p>\n

In Argentina, there are approximately 600,0000 SMEs<\/strong> that represent 98% of the companies<\/strong> in the country. Its impact on the development of Argentina is obvious since these companies create\u00a070% of jobs<\/strong> and contribute 60% of GDP<\/strong>.<\/p>\n

“Currently, 3 out of 10 SMEs have access to a bank loan. This has a direct impact on your growth opportunities. Even those who have access, do not always get the total requested\u201d<\/p><\/blockquote>\n

Credility relies on a sophisticated credit scoring system<\/strong> to originate loans. The company developed a proprietary technology<\/strong> that connects SMEs to traditional and alternative sources. In addition to traditional data used by banks such as balance sheets, credit bureaus, etc. Credility uses a powerful social network analysis<\/strong>, and identifies sales figures and other financial information in real time<\/strong> through government public data, MercadoLibre, management systems and many other sources. With its technology, the company can better unerdstand its clients<\/strong> and give them access to loans<\/strong> in just 48 hours time.<\/p>\n

The role of banks on this industry is crucial:<\/p>\n

“We are convinced that the solution to the problem of financing will be largely due to the joint work of Fintech with banks, governments and other major institutions\u201d, says Matias.<\/p><\/blockquote>\n

Cedility will be participating, along with winning startups from Chile, Mexico and Colombia, in the regional NXTP Labs final held in Bogota next month. Good luck to you guys!<\/p>\n

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 <\/p>\n","protected":false},"excerpt":{"rendered":"

Credility, an online lending platform for SMEs, has been awarded during the NXTP Pitch Competition 2017. A jury composed of\u00a0financial industry experts and VC investors\u00a0selected Credility as the winner of the last NXTP Labs Fintech program in Buenos Aires. The Argentine startup, co-founded by Federico Gomez Romero, Matias Iturralde and Juan Carlos Christensen, is targeting […]<\/p>\n","protected":false},"author":21,"featured_media":5275,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1797,3,6,7],"tags":[108,1603,1534,1601,370,378,1604,540,553,1606,807,857,1605,899,1511,1020,1602,1416],"yoast_head":"\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\n\n\t\n\t\n\t\n