The financial inclusion starts with the quality of the informationAs stated by Equifax, a global financial information solutions company with a presence in Mexico, which has the goal that banks include more people in the financial system, through the greatest amount and reliability of data so that they can fully profile and without risk to your potential customers, even those who are in the informal sector.
Chris Jones, President of Equifax for Latin America, he assured in an interview with MILLENNIUM that “Mexico is the second most economically important country in Latin America and represents an important opportunity for our expansion plans. The purpose of the company is to help reach its greater financial capacity and that here in Mexico represents a great opportunity ”, he explained.
In the country, Equifax provides solutions to more than 100 banks and savings banks, cooperatives and financial companies multiple objects (Sofomes), retailers Y fintech, with credit solutions, fraud prevention and collection as recovery of past due portfolio, as well as for the correct administration of the assets of the credit portfolios.
In fact, more than 85 percent of credit cards in Mexico are managed with its system.
Since 2013, when Equifax came to the country via the purchase of the Inffinix company, with an investment of 40 million dollars and thereafter reinvests one million dollars per year. In addition, Equifax generates more than 200 highly specialized direct jobs in Mexico.
The company, with more than 100 years of experience, is present in 24 countries of the American continent, Europe, Asia and the Pacific, where it seeks to give value to the “raw” data collected with variables that generate more meaning to the information to process them with technology.
“We have experience in Latin America and in the world bringing people to the financial system. Supporting banks to bring people who do not have access to credit or accounts, with unique data, interesting intelligence and technological platforms ”.
Jones said that, according to data from the Association of Banks of Mexico, 57 percent of adults do not have access to the financial systemIn addition, 7 out of 10 do not have access to credit, “it is not for their personal reasons, it is because the banks do not have enough data or information on their behavior with money, which for us is a great opportunity” .
Explained that Mexico is a reflection of Latin America, where 60 percent of the adult population does not have access to financial services, due to informality, “we are talking about approximately 260 million people who do not trust banks and prefer to save their money before depositing it in an account.”
Abraham Procopio, General Manager of Equifax Mexico, He explained that the pandemic generated different needs for banks, which forced them to potentiate digital assessment tools for customers. “They demand other types of solutions for the collection on smartphones in a simple way,” he explained.
“They demand other types of solutions and products, mainly digital, for the collection of customers on smartphones in a simple way. From the technology side, we cover the entire process, from the origin, evaluation, administration, identification and prevention of fraud and the collection cycle ”, explained the manager.
In Mexico, Equifax’s flagship product is CyberFinancial, which is currently the most complete collection system in the world, allowing companies that use it to automate the entire collection process, increase the profitability of their credit portfolios and have a more efficient management of their information.
“When Equifax decided to acquire Inffinix in 2013, it invested to promote solutions developed by Mexicans. For example, CyberFinancial was developed in Mexico, with talent from our country, and today it is one of the most complete solutions in the world, which automates the entire collection process of a company and allows it to be more efficient and improve its financial indicators ” , ended.