TV Globo: fintechs are investing in the payroll loan market
To make life easier for those who need credit, technology companies are investing in the Payroll loan Market. SalaryFits rely on very successful experiences from our parent companies in Brazil (Zetra) and Mexico. The patented platform and a business strategy has been tested and improved within these markets for more than 15 years. The solution processes over 4.5 million payroll deductions monthly, helping to build a more sustainable and inclusive financial system and benefitting around 2.5 million Brazilians.
Jornal da Globo, the late night news show broadcast by the Brazilian leader channel TV Globo, broadcasted a story on 10th of February about companies that use technology to improve the offer of financial services.
The Fintech (Zetra/SalaryFits) company that created this application is currently leading the Brazilian market. In 2016, it managed 60 billion reais in payroll deduction loans. The company makes agreements, for example, with companies or municipalities that want to offer payroll loans to their employees. Interest rates are lower than if customers went straight to banks.
Rosy Araujo, CEO of Zetra, was interviewed in Brazil. “The more the fintechs companies provide banks with security, cost reductions, data integrity and agility in the processes, the lower the value banks will charge for these products that they currently offer in the market”, said.
Click here to watch the video.