On 3-4 December 2019, FinnoSummit – the LatAm fintech focused conference backed by LendIt, took place at Miami, USA. Boris Batine has shared his industry insights on Cutting Edge in Fintech panel discussion. Boris told that one of the most important aims of ID Finance is to empower the underbanked to become financially included. Around the half of the 630 million in LatAm do not have access to the banking services for the moment.
For the moment, ID Finance has over 3m+ registered users in Mexico and Brazil. The company onboards around 40k+ new users every week. Thus, the company sees a huge room for the business, within the €88bn+ market size approximate evaluation.
ID Finance is fully ready to scale with fine-tuned unit economics, well-designed products, and clients acquisition strategy based on the standards of conscious consumption. In July 2019, ID Finance generated an industry-beating NPS of 78, which is way higher than NPS of any LatAm bank. 90% of the company’s customers apply for repeat loan. This would help ID Finance to achieve another strategic goal – to become #1 digital platform in Hispanic and Latino markets.