The Good for Credit (BPC) is redefining its business strategy aiming to become a super financial wallet, simplifying consumers’ lives. The company is expanding its focus, no longer just a provider of personal loans but offering a wide range of financial products and services on its digital platform.
“Eight months ago, 90% of our operation was personal credit. Today, this activity represents 52% of our marketplace, and by December, the trend is to drop to 44%,” projects Leonardo Grapeia, a member of the Advisory Board of Bom Pra Crédito. He highlights that this change “reflects a new socioeconomic conjuncture and the need to meet the main demands of Brazilians for credit access, better rates, and new steps after regularizing their finances.”
In addition, the company underwent a retrofit, with a new visual identity, much more modern and robust, resulting in improved outcomes.
“We want this first access to be a starting point for the user to discover new credit possibilities and other financial services in the same app. We are investing in a retrofit to ensure this transition,” explains Bruna Cerqueira, head of BPC.
The adjustments in Bom Pra Crédito’s business strategy are expected to result in projected revenue of R$ 11.4 million by December, with prospects for continuous growth in the coming years. Strategic partnerships are being formed to increase the variety of services and products offered, using the benefits of Open Finance to attract and retain customers with personalized terms and interest rates, which can be improved with collateral, such as products or salary.
“We aim to facilitate the customer’s journey and adoption of our products and services, focusing on APIs that cover the entire process. The volume and diversity of the offering depend on increasing demand. The greater the access and adoptions, the more we can individualize conditions and arouse even more interest,” details Grapeia.
Partnerships and new perspectives
Open Finance has been fundamental to the Bom Pra Crédito strategy, allowing faster and detailed access to customer characteristics and needs. This requires skills to filter and process this information, identify opportunities, and enhance exchanges and synergies with other ecosystem members.
To fill gaps left by large institutions, BPC’s Head, Bruna Cerqueira, advocates for specific processes for each type of offer on the platform: “The requirements cannot be the same for all demands. We developed specific stages and microservices models for each product,” she affirms. In the long run, the platform aims to further diversify, offering options such as Bom Pra Comprar, Bom Pra Investir, and insurance services, strengthening the brand as a credit reference.
Currently, there is high demand for the anticipation of FGTS, with 70% of individuals with negative credit seeking this service. Bom Pra Crédito sees this as a redirection opportunity:
According to Grapeia, organization and planning are essential, whether seeking credit or investing. “It is important to consider future installments in the budget and know exactly what you want to achieve. The changes on the platform are significant, and the outlook is quite promising,” concludes.
Other options for individuals and companies available on the BPC platform besides the traditional personal loan include: loans with options for property, vehicle, and cell phone collateral; credit lines for MEIs and freelancers; salary advance; Buy Now Pay Later, which allows the borrower to access amounts above the requested price tag, according to the payment capacity detected by the platform; federal payroll loan; and BPC Check, a service available to creditors, aiming to be the bureau based on Open Finance that will help reduce costs and speed up decision-making, understanding the audience based on enriched financial data.
