Faced with the economic recovery in Brazil, which aroused the demand for differentiated options for access to credit and means of payment, financial institutions sought to modernize and offer new solutions aimed at serving a larger portion of the population - especially the large number of consumers invisible to Marketplace. Based on this, Credz, one of the largest card issuers and administrators in Brazil, in partnership with TransUnion, a global information solutions company, expanded its market and optimized its concession processes through decision solutions and alternative data.
Credz had the challenge of increasing its offerings to consumers between 18 and 25 years old, whose credit potential is difficult to assess, since many of these young people are in the informal job market, are unbanked or make up income in their family. It was necessary to design new processes and policies for concessions, thus allowing Credz to assist this greater volume of customers in this market segment without increasing the risk of default.
Using TransUnion's Book 3D analytics and alternative data solutions, combined with the already used Crivo decision-making solution and the consultation platform that provides ZipOnline information, it was possible to map and build more comprehensive offers for this niche of customers, a since they offer data and insights to expand knowledge about purchase profiles, adapting products to the reality of this audience.
“To leverage consumption and, consequently, move the economy, it is necessary to grant credit. Given our history of economic cycles and the regulatory landscape, these decisions have always been complex and time-consuming. With TransUnion's solutions, we were able to positively impact the lives of young people who have, on our card, their first opportunity to access goods and services they would not be able to get without credit ”, comments Fernando Guiselini, Director of Planning, Risk and Analytics at Credz . “TransUnion offers more than a solution selling relationship. It presents us with new products and functionalities updated with the movement of the market ”, completes the executive.
For the purpose of facilitating the partners' work routine to be effective, it was necessary that Credz had quick, effective and safe responses, without compromising the usual flow of stores. Through TransUnion's solutions, the administrator had access to more than 600 data sources automatically integrated into its system, enabling the construction of its own credit granting model and a better understanding of young people with no financial history.
According to Juarez Zortea, president of TransUnion Brasil, it is important that companies are concerned with inserting different groups among their target audience, democratizing means of payment and increasing access to goods and services. “According to a survey by TransUnion, we currently have about 100 million Brazilians invisible to market players, including 25 million who are starting their financial activities. Since this portion of the population also has potential consumers, we understand the importance of using alternative data for a better understanding of this possible customer. Partnering with a company with Credz's track record and technology is an opportunity to put our purpose of 'Helping to Improve People's Quality of Life' into practice and allow the market to reheat. We call this Information for Good ”.
Founded in 2011, the credit issuer and administrator Credz emerged as an alternative for retailers to redefine their business models and include different audiences, with more effective offers and that, even with a dynamic economic scenario, continued to foster the market. To this end, Credz mapped new formats and credit cycles, understanding the consumer from a broad background, including, for example, young people and self-employed workers.
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