According to the Financial Superintendence of Colombia, the percentage of adults with financing during 2023 stood at 35%, which indicates that there were 13.5 million adults with fewer formal financing products compared to 2022.
This could largely be explained by why the trend of informal loans, also known as “gota a gota,” persists in the country. According to a report presented by DataCrédito Experian, one in four people resorts to this type of credit, mostly vulnerable population in stratum one, between 36 and 45 years old.
According to the risk center, lenders of this modality “camouflage” themselves using mechanisms similar to those of a formal credit to lend money, exposing users to endless risks, including the possibility of being victims of fraud. or abuses, such as exaggerated and illegal interest rates, in addition to preventing people from saving or investing in the long term, not to mention that informal loans are not taken into account in their credit history.
Aware of this panorama, from its financing front, Compensar has been developing new alternatives within its ‘Social Credit’ portfolio, with the aim of facilitating access to various affordable financial products and services, helping users protect their finances, recover your credit history or face financial eventualities.
“Our main purpose as an organization is to contribute to the comprehensive well-being of people, and we know that in this task financial well-being plays a fundamental role. Therefore, users find in us a wide range of services, including financial services with a focus on affiliates of categories A and B, that is, those who earn less income,” explained Carlos Andrés Rodríguez, director of Compensar’s Financing and Alliances Unit.
Continuing with the manager, one of these new lines of social impact is ‘NanoYa’, a rotating credit of up to $300 thousand aimed at people with resources less than four minimum wages, in which the available space is released as the amounts are paid. respective quotas. “This credit can be requested 100% digitally, has immediate approval and can be used by transfer to the bank account or mobile wallet registered by the affiliate,” he added.
To validate if they have a NanoYa offer available, affiliates must enter the transactional portal on the Compensar website or their Mobile Wallet application. If so, they will only have to verify their identity, provide some information and confirm the amount to request.
“At Compensar we benefit about 180 thousand families each year with financial and credit services. With NanoYa, we hope to impact about five thousand families before the end of 2024,” Rodríguez said.
More options, more possibilities
During the first five months of 2024, Compensar granted nearly 70 thousand loans for a total value of $120 billion in various lines. However, the entity remains committed to exploring new funding and financing mechanisms to continue offering financial services to the population that needs it most.
“Today we have nearly three million members, including workers and beneficiaries, where 86% are people with incomes less than four minimum wages, which indicates that it is a population that needs our support. For this, we also have a line called ‘Credit with Purpose’ and another called ‘Financial Life Recovery’,” emphasizes the director of the Compensar Financing and Alliances Unit.
‘Crédito con Propósito’ offers an amount of up to $1,000,000 with a payment term of 12 months, through the release system. For its part, ‘Financial Life Recovery’ provides alternatives such as portfolio purchases or free investment to more than four thousand members.
Finally, taking into account the importance of promoting a culture of savings and promoting the making of correct financial decisions, Compensar has a training program aimed not only at those who have a credit product, but also aims to cover the majority. possible number of its members.
Finally, according to Carlos Rodríguez, director of Compensar’s Financing and Alliances Unit, the entity’s financial services portfolio is complemented by other options they offer to benefit the family economy of their members, including discounts and benefits on a network of more than 193 allied establishments, distributed in 13 categories, including supermarkets, drugstores, insurance, education, entertainment, among others. As a result, in the first quarter of 2024 more than 368 thousand people achieved savings worth approximately $20 billion in the acquisition of products or services.
For more information go to https://corporativo.compensar.com/credito/lineas-de-credito
