Colombian fintech obtained the FinTrust Trust Seal

More than 23 million Colombians suffer daily for not having easy access to credit, this, according to a global study carried out by TransUnion. ANDThis concern is exacerbated when people have to deal with inflation that in 2022 reached 13.12%. Anxiety, fear when thinking about the future and, on many occasions, social conflicts caused by a lack of liquidity are some of the situations that Colombians who do not have access to credit have to go through.

(Fintech: how many firms are there in the country and how many loans have been granted).

Hernán Pérez, from Antioquia who has his store in the La Floresta neighborhood of Medellín, is one of the Colombians who has resorted to credit to achieve his objectives; however, he stresses that sometimes it is almost impossible to obtain this type of aid from traditional banks.

For this reason, thinking of solving this problem, RapiCredit was born nine years ago, a company that promotes financial inclusion and access to credit for people, as well as micro, small and medium-sized enterprises (MSMEs).

“This company has originated in its history around 1 trillion pesos that previously circulated in informal economies. We loaned the money and people solved urgent needs and this same money boosts the national economy”, said Daniel Materón, CEO of RapiCredit, who is convinced that all Colombians should be taken into account and that is why his company carries the banner of inclusion.

But carrying out this work, in a society with as many inconveniences as the Colombian one, is not easy; Many Fintech companies that today grant credits began to appear in the country: currently there are 33.

(Fintech: present and future of the financial market).

Howeverothers also appeared that defrauded Colombians by illegally using existing names and digital platforms in the country to carry out this type of process.

Therefore, for Materón it was relevant: “Aim for two things: first, that there be a focus on self-regulation and second, that there be a seal that clearly identifies the companies that have good self-regulation and that also carry out an activity that does not raise doubts about the origin of its resources and the offer of a credit with transparency in the market”.

Over time and thanks to this premise, the association of Fintech companies of Colombia (Colombia Fintech), created the FinTrust Seal, which is an electronic brand that reflects the commitment to legal compliance and good practices applicable to the Fintech industry, generating in this way a greater degree of confidence and security in front of the users of services offered.

This confidence is reflected in aspects such as the protection of personal data, where RapiCredit has shown to have Personal Data Treatment Policies to guarantee their protection, preservation and privacy of the same to their owners, in addition to ensuring compliance with current legal regulations on the matter.

Also in Consumer Protection, because one of RapiCredit’s commitments is to insure the client fairly and for this it has designed and implemented consumer protection policies, whose objective is to guarantee full respect for the rights of consumers in all contacts and relationships that RapiCredit establishes with them.

Similarly, in Advertising, in which RapiCredit has established advertising policies aimed at providing guidelines to develop communication and advertising activities aimed at the public in order to respect fair competition, respect for the criteria of all commercial advertising aimed at public and ensuring compliance with the current regulations on consumer protection, taking care of the elements of understanding, clarity, veracity and sufficiency.

Finally, in Information Security, in which RapiCredit has information security and cybersecurity policies that promote controls to guarantee the privacy, confidentiality, integrity and availability of the information of its clients and interested parties, in order to prevent the leakage of personal and sensitive data information, as well as risks of fraud, identity theft, among others.

“This path was the one that RapiCredit followed and once the seal was exhibited, we applied and they granted it to us”, stressed Materón, who now, thanks to this distinction, can continue with his business mission of helping the less favored and, therefore, contribute to the creation of a credit score that enables them in the financial system within the law.