*by Leonardo Costanza
According to a survey by the Brazilian Association of Fintechs (ABFintechs) and the PwC Brazil audit, produced in 2020 based on the responses of representatives from 148 fintechs, of different sizes and sectors, since 2019, fintechs have been expanding the services offered and working with different audiences.
In addition, the performance became more diverse, as the study revealed that the credit, financing and debt negotiation segment is the one that most attracts fintechs (21%), followed by means of payment (16%), financial management ( 9%), digital banks (9%) and technologies such as Open Banking and Banking as a Service (7%). In this context, the fintechs , by offering access to withdrawn risk, ensure a better experience in the consumption of financial products and services.
Drawn risk, also known as anchor project, is a financial product that allows you to obtain working capital without consuming the credit line with the bank. With it, the anchor company does not need to bear indebtedness and it is also feasible to create strategies to extend the payment term with its suppliers.
There is no doubt about the relevance of the risk drawn to the market, considering that obtaining credit is usually a major obstacle, regardless of the sector or the economic moment of the companies. Therefore, it is perceived as a challenge for the manager to search for more efficient ways to raise financial resources.
In practice, the purchasing company, called “anchor company”, sets up an advance payment operation to its suppliers, “lending” its reputation and its most competitive rates to foster business, without consuming its credit line with the bank. Thus, the anchor project resource is only used for suppliers to anticipate their receipts, operating as working capital for the anchor company.
But what is the importance of fintechs in this sense?
Obtaining credit in Brazil is still a slow and bureaucratic process, both for banks and fintechs. Therefore, it is necessary to transform the current way of credit analysis, which is carried out through the bank kit (consisting of social contract, attorneys, company data, and especially balance sheet data).
To speed up this process, the real-time use of data available in the ERP s . Thus, one of the great advantages of fintechs is this agile survey of information via ERP, ensuring access to data that are extremely relevant for the success of an operation. However, we face a major challenge, as the financial industry is still unable to validate this information in real time.
We can see many companies already looking at ERP data, and from that information, granting credit and understanding financial health in a more automated way. The objective is that, in the near future, it will be possible to use different data for credit analysis, enabling a more assertive credit quality, in addition to ensuring greater agility in the process. In this way, the extraction of ERP data in a structured, secure and organized way becomes an intelligent repository that is now consumed by various fintechs and financial products.
Technologies already used by fintechs
Among the technologies that already exist at fintechs, we can highlight iPaaS, platforms that control connections, and APIs, which promote the exchange of information in a fast and secure manner. In addition, some fintechs already have racking, credit and financial health analysis models for the company, which are being built based on artificial intelligence. This is the model that is being built to become a standard in the market.
Fintechs came to take advantage of this moment of change and deliver a new user experience. They are growing all the time across the entire banking chain to address a market pain that can be more intelligently addressed through technology. By applying these innovations, it will be possible to offer a personalized experience that ranges from usability to big data analysis issues, increasing customer satisfaction and, consequently, leveraging the business.
*Leonardo Costanza is Director of Innovation and New Business at Sky.One and responsible for Sky.Simple, a platform that connects your management software (ERP) with financial services, simplifying your access.
Notice: The opinion presented in this article is the responsibility of its author and not of ABES - Brazilian Association of Software Companies
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