Boris Batine: The key of ID Finance success is offering the right product and having excellent professionals

Our CEO, Boris Batin, has recently been interviewed by German media outlet Anleihen-Finder, aimed at providing German retail bond investors with relevant information on the fixed income market.

And one of the fixed income products available in Germany is the 9,50% bond, listed on the Frankfurt Stock Exchange (ISIN: XS2231806394), ID Finance issued in 2020, totaling €40M to reinforce the financing of its business model. Even though ID Finance currently has no operations in Germany, as of today a significant proportion of its investors are located in that country.  

With operations both in Spain and Mexico, Boris Batin has focused mainly on the success story of the business in Spain, where the company was founded in 2015 by him and co-founder and COO Alexander Dunaev. In less than 8 years ID Finance has acquired a leading position in alternative lending, with a market share of 20% – 30%, serving up to 600.000 customers, that seek accessible, save and personalized financial services. In fact, each month ID Finance processes around 50,000 credit applications.

In addition, he addressed the recent launch of financial wellness app Plazo, that expands even more the current financial product offering of the company. In less than 2 years the app has already issued over 120.000 debit cards.

Unique Selling Proposition of ID Finance

Asked about how ID Finance differentiates itself from competitors as luteCredit, Multitud or 4Finance, which also have bonds listed in Germany, Boris Batin stressed that the first two have no presence in the Spanish market, whereas 4Finance is its main competitor. However, on one of ID Finance strengths is its capacity to quickly and constantly adapt its in-house made, cutting edge technology to the customers’ needs. Its expertise in data science and machine learning provides immediate and seamless access to small credit amounts.

At the same time, ID Finance has kept expanding the operative excellence of its scalable platform, thus reaching new markets. In this regard, it has become a true expert in credit risk management, and at the same time has always assured the consistency and profitability of its activity. In fact, the combination of choosing the right product and having a team of excellent professionals has been key to reaching a leading market position.

Read the whole interview here.