Although 78% of the population claims to have an account in some bank, 1 in 3 Brazilians still does not feel properly included financially, and the lack of access to credit is one of the main reasons (73%) for this perception to exist “Da DREX ballot: the evolution of money in 30 years”, produced by Mercado Pago in partnership with the Brazilian Institute of Research and Data Analysis (IBPAD).
For Igor Castroviejo, commercial director of 1datapipe, a platform for consuming insights via Artificial Intelligence, much of the reason why so many people cannot get credit is due to traditional models of evaluation by institutions. “Unfortunately, municipalities still rely on sources of very superficial and outdated information, so that many potential customers go unnoticed by the lack of depth of the companies THEMSELVES”.
The executive brings, to exemplify, some important data, such as the fact that more than 38% of the population work informally, according to a survey by Statista, which makes it difficult for municipalities to detect payment capacity. “In addition, a study by the Locomotiva Institute points out that there are more than 4.6 million Brazilians without a bank account and another material, called Beyond Borders 2022/2023, pointed out that only 40% of adults in the country have a credit card. With this, there are millions of Brazilians invisible to the eyes of these evaluations, as punctually as Igor, without access to something so much as Igor.
As a solution to the problem, the professional suggests that financial institutions invest in technological solutions capable of covering these minority groups in their analyzes.“Thanks to the digital advent in our country, there are already solutions in the market that provide municipalities with valuable alternative data, such as online shopping history, consumption habits, profession, employment history, average salary and family income of these potential customers, which can bring very good insights into the profile of each”, he points out.
In addition, Igor Castroviejo draws attention to the good use of Artificial Intelligence. “It plays a key role, as much so that data from Boston Consulting Group show that this technology brings productivity gains in up to 80% in banks, improving credit-related decision making. This happens because, through it, it is possible to make a detailed assessment of information, identifying patterns and crucial trends in these evaluations”, he points out.
