A reference company in the segment of Electronic Consignable Margin Management in Brazil, a model that became better known as consigned credit, Zetra decided to internationalize the eConsig software after studying and envisioning opportunities in new markets. “We have identified great prospects of taking a Brazilian case of success to the world, as we have the first consignable margin management platform in the country and market leader”, says Renato Araujo, founder of Zetra and Global CEO of SalaryFits, the name given to the platform and that will be used in the solution internationalization process.
SalaryFits (www.salaryfits.com) is a platform that uses the same structure and technology as eConsig and was officially presented to the market at the BRICs Trade Fair 2016, held in October in India, during the meeting of the BRICs countries. The action was supported by the Brazilian Trade and Investment Promotion Agency (Apex) and the India/Brazil Chamber of Commerce.
“The repercussion was very positive, with great market acceptance. We had approximately 1,000 people in our booth, generating important invitations and meetings with players from other markets, such as, for example, a large bank in Russia, European banks and India itself”, Araujo details.
The executive explains that the company works so that SalaryFits has clients in India as early as next year, as negotiations with the market and investors are quite advanced. Among the potential customers is Yes Bank, one of India's largest retail banks.
It is worth mentioning that the platform has been in operation for two years in Mexico, through a partnership with the technology company eNomina, where it already has customers. To support the solution's current international expansion project, another partnership was signed with Level 39, the largest acceleration space for Fintech startups in the world, located in England, and other agreements will be announced soon.
Araujo explains that the success of SalaryFits is due to the fact that the solution is totally efficient, “because it speeds up the processes with total security, and is also sustainable, because it reduces the banks' credit risks and the operational cost, allowing the reduction of the interest rates and, consequently, the population default. With this formula, the payroll loan has established itself as one of the fastest growing types of credit in Brazil and will conquer other markets”, he ponders.
In India, interest rates are lower compared to Brazil, and even so, Araujo says they have been working to lower their lowest rate by at least 1%. “Several ongoing negotiations will help to make the platform viable in this square and they are already well advanced. We also have partnerships with digital wallets and a marketplace. SalaryFits' contribution towards financial inclusion in India has been crucial, given the platform's synergy with the current Indian market policy”.
About Zetra
In addition to eConsig, Zetra contributes to public and private management, offering technological solutions and services such as digital certification; Zoom.RH, software that assists in auditing and compliance with the Social Responsibility Law; the Credit Recovery Program, consultancy to reduce server/employee indebtedness; and more recently, Health Benefit Management, a service that offers more sustainability and efficiency to the management of different health/dental plans, through simulation, registration, contracting, consignment, support, among other benefits. The company has around 250 clients from the Executive, Legislative and Judiciary branches, at the federal, state and municipal levels, as well as from the private sector. Among them are: Nestlé, Peugeot, Coca-Cola and large entities such as the Brazilian Air Force and Navy, the Federal Audit Court (TCU) and the Federal Supreme Court (STF).
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