2023-08-25 19:17:20
Specializing in secured and payroll loans for individuals, fintech Up.p is the newest member of Brazilian Digital Credit Association (ABCD), an entity that represents credit fintechs.
Authorized by the Central Bank to act as a Society of Loans between People (SEP) in 2020, the financial institution has among its products anticipation of FGTS, INSS payroll and for federal public servants (SIAPE), in addition to loans with social security guarantee.
“In our brief history, Up.p has already intermediated hundreds of millions of reais for clients throughout Brazil”, points out Gabriel Pérgola, the company’s CEO, who believes that the growth of loans between people in the country is the result of the combination of a series of factors. “The advances in technology, the excellent openness and regulatory initiatives of the Central Bank, the search for financing alternatives outside the conventional banking system and the possibility of more attractive interest rates for all stand out”, he lists.
According to Pérgola, the growth of SEPs in the coming years will depend on the ability of institutions to maintain the confidence of investors and borrowers, especially by providing more efficient credit solutions with better conditions than traditional banking financial institutions.
“Being a member of ABCD further reinforces our intention to stimulate competition in the Brazilian credit market, with more innovation and less complexity, in addition to bringing us closer to other partner fintechs. Together with the association, we will strengthen our quest to continue promoting and developing, through technology and innovation, the regulatory, legal and financial environment of the sector”, completes the executive.
Claudia Amira, executive director of the Associação Brasileira de Crédito Digital, points out that the arrival of Up.p at ABCD strengthens the strategy of expanding the entity’s representativeness. “The diversification of our associates’ profiles empowers us at a time when important debates on the country’s economic agenda involve the segment”.
Information regarding all members of the Brazilian Association of Digital Credit is available at https://creditodigital.org.br/membros-associados/.
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